Mortgage Bankers Association

Purchases managed a small rise, but refinance activity held steady, according to the Mortgage Bankers Association.

While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.

Moderating price growth and higher wages are leading to affordability relief, according to the Mortgage Bankers Association.

Declining refinance activity offset the growth in government-backed purchases, the Mortgage Bankers Association said.

Homeowners responded to moderating interest rates and brought in significantly more refinance volume, with Department of Veterans Affairs numbers more than doubling from the prior week.

At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.

Loan volumes fell for the third straight week, with depressed demand for government lending driving activity downward, the Mortgage Bankers Association said.

Mortgage application activity had its largest decline in a year, according to the Mortgage Bankers Association.

Lending activity among builders surged over 22% annually in December, but the growing share of FHA-backed borrowing in the segment took a step back for the first time in four months, the Mortgage Bankers Association said.

The end-of-year slowdown comes after a recent fall surge, but overall activity still finished 6% below late 2022 levels, according to the Mortgage Bankers Association.