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Falling interest rates led to a rush in refinancing, but slowing purchase activity brought a decline in overall lock volumes, according to Optimal Blue.

While August's views on buying conditions and rates increased over July, the other components in Fannie Mae's sentiment index all declined, driving it lower.

Black homeownership fell to 43.9% this summer, its lowest since 2021, as rising unemployment and federal layoffs widened housing gaps across demographics.

The 30-year conforming fixed rate mortgage ended this week at its lowest since last Oct. 17, helped by bond traders pricing in a reduction in short-term rates.

Strategically introducing AI bolsters FIS' value added services, and improves clients' scalability and decision-making.

The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.

The increase in purchase volume was not enough to offset the drop in refinance application submissions as conventional rates increased week-over-week.

The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.

While still higher than the norm, the reduction in this spread is good news when it comes to mortgage rates for potential homebuyers as well as current owners.

Lagging tech adoption, issues with credit, and originators' rush to close refinances earlier this year contributed to deterioration, a study found.