Originations

Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.

Freddie's 30-year hit 7.03%, first above 7% since Jan. 2025, as 10-year yield tops 5.1%. ARM share jumped to 9.8%; lenders should pitch ARMs to keep payment-sensitive buyers.

The market initially showed relief after the initial confirmation of an anticipated inflation-fighting hike but discussion of a future raise renewed concern.

The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.

BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.

Developments at Freddie Mac, Fannie Mae and factory-built housing innovator Boxabl point to some expanded ways to make mortgages or HELOCs.

The federal government has largely stepped back from enforcing antidiscrimination laws in lending and housing. Under a recently passed bill, regulators in the nation's most populous state would seek to fill the void.

Bank of America Securities research shows this sector has had its best year since at least 2017, but some trends in the market point to a need for caution.

If Fed Chair Kevin Warsh's comments lack substance on inflation in the market's opinion, it is likely to drive mortgage rates even higher, NerdWallet warned.

Price gains slowed to a crawl from May to June, specifically in the West, but Central and East Coast regions showed steady year-over-year gains.

After losing money on production in most quarters between 2022 and 2024, independent mortgage bankers have achieved five consecutive quarters in the black.

So far, annual home lending growth is on track to slow, but not stop, with some positive developments surfacing amid broader challenges.

The Mortgage Bankers Association says the three-day post-close period is redundant, but consumer groups called it vital for borrowers and required by law.

The average down payment across the list was 17.1%, well above 13.1% nationally, and the median credit score was 766, compared with 747 countrywide.

The 3 basis point gain in the 30-year fixed comes as investors are now pricing in the likelihood of a Federal Reserve short-term rate hike in September.

The deal bolsters Zions' ability to serve multifamily customers and creates a natural extension of its affordable housing lending program, management said.

The investment is expected to bring a 40% increase to Chase Home Lending's mortgage capacity, with the addition of 850 new advisors, the company said.

The 30-year fixed rate mortgage is at its highest point in 51 weeks with a divergence in forecasts for what happens between now and the end of the year.

The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.

Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.