Declining interest rates helped to boost refi originations in the third quarter. United Wholesale Mortgage more than doubled its refi business. Meanwhile, purchase-mortgage volume declined slightly. (Includes five data tables.)
The MBA is focusing on regulatory reforms to help reduce the cost of mortgages. There is also some hope that Congress will pass legislation addressing trigger leads.
Additional warehouse providers mean more choices for nonbank mortgage companies. But with mortgage rates headed north once again, will it matter all that much?
Economist and former PIMCO CEO Mohamed El-Erian says the U.S. economy is the cream of the crop in the developed world. And the prospects for housing finance are also looking up.
Mortgage originations typically decline from the second quarter to the third. This year, however, declining interest rates helped increase refinance production and prop up purchase-mortgage lending.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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