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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.

Fannie Mae economists toned down their housing and economic outlook in August, predicting fewer home sales and less mortgage origination volume versus July.

The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.

The 30-year fixed rate mortgage fell by 5 basis points, with the Consumer Price Index showing muted inflation and jobs data still influencing the market.

July's growth in products correspond with a noticeable rise in new applications for adjustable-rate mortgages as borrowers respond to recent rate movements.

The Senate bill would make forbearance available to homeowners directly impacted by extreme-weather events, including 2025 California wildfire victims.