Purchase

Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one week earlier, according to the Mortgage Bankers Association.

Potential sales last month rose compared with April as homes became more affordable due to low mortgage rates.

Purchase mortgage application volume was at its most in over a decade as consumer confidence continued to improve in the aftermath of the coronavirus shutdown, according to the Mortgage Bankers Association.

A Clever Real Estate survey found a significant share of new borrowers are not making their full payment.

The expected rise in refinance volume overrides pessimism about purchase activity for their businesses.

Mortgage applications increased 2.7% from one week earlier, as purchase volume is now outpacing the prior year's activity, according to the Mortgage Bankers Association.

Some cities saw drops in annual housing supply nearing 40% in early May, according to Zillow.

With mortgage rates reaching all-time lows in the opening quarter, refinance originations were up in 97% of housing markets during 1Q, according to Attom Data Solutions.

Purchase mortgage activity rose for the third consecutive week, although the total volume was flat compared with the previous seven-day period, according to the Mortgage Bankers Association.

The coronavirus disruption caused March's pending home sales to fall and the losses will reverberate through the rest of 2020, according to the National Association of Realtors.

Increased refinancing volume led Fannie Mae to raise its 2020 estimate by $300 billion and 2021 projection by $280 billion.

The cancellation by New Residential of a money-losing subservicing agreement should benefit Ocwen's financial results going forward, the company said.

A dip in conventional mortgage refinance demand drove mortgage application volume down compared with one week earlier, according to the Mortgage Bankers Association.

For the first time since the start of the housing crisis, mortgage origination volume could top $2 trillion for three consecutive years, according to Fannie Mae.

Consumer sentiment about purchasing a home nears its record high as almost half of those surveyed said mortgage rates will stay at the current low levels, according to Fannie Mae.

Loan defect risk in purchase applications stopped falling and plateaued in October, according to First American Financial Corp.

With economic expansion expected to keep churning through at least the first half of next year, Fannie Mae upwardly revised its single-family mortgage origination outlook for 2019 and 2020.

Freddie Mac is now forecasting back-to-back years of $2 trillion in mortgage loan originations rather than a drop-off in 2020.

With the qualified mortgage patch expiring and a recession likely, wealth inequities that have hurt black and millennial homeownership could worsen, according to the National Association of Real Estate Brokers.

Property values recovered, and in some cases even surpassed housing bubble peaks, but the same can't be said for waning new construction activity, which won't return to historic norms for years, according to Zillow.