Purchase

Boosts in purchases and cash-out refinances drove the summer turnaround, according to Black Knight.

The lack of homes for sale is supporting the record values, unlike what happened in the mid-2000s, analysts say.

Demand was strongest at the high end of the market, which pushed loan amounts up for the fourth straight month.

Changed borrower psychology and the severe housing inventory shortage dropped lending activity across the board, according to Black Knight.

Refinancings more than doubled the year-ago amount and made up for the slowed purchase activity, according to Attom Data Solutions.

Economic recovery should soar into the summer as vaccination rates climb and restrictions loosen up, but low inventory is likely to limit mortgage activity into the next year, according to Fannie Mae.

It’s getting easier to close bigger loans for higher-priced properties, but credit is expanding slower for first-time buyers.

Rising cases and vaccine issues caused bond yields to fall, but inflationary pressures will likely reverse that course.

Mortgage rates that are rising in tandem with a recovering economy dampened borrower activity, even with prime homebuying season underway.

While the economic recovery and stimulus checks drove upward movement in purchases, it wasn’t enough to offset tumbling refinance activity.