Digital mortgage closings are getting renewed attention with the industry forced into social distancing to contain the coronavirus. Remote online notarization can help, though it’s not allowed in all states yet.

The first-time homebuyer share of originations has held steady for years, though the borrowers’ characteristics are changing — many are getting older.

Credit unions tend to offer mortgages with lower interest rates than other lenders. However, their share of originations is relatively low and the gap between them and banks in terms of interest rates has narrowed.

Prior to the 2008 housing crisis, the supply of new housing units dipped below 1.25 million only once, in 1982. Following the crisis, the supply didn’t rise above 1.25 million until 2017.

The homeownership rate hit a six-year high at the end of last year, with low interest rates helping homebuyers even as prices increased at a steady pace. Low inventory of homes for sale could lead to affordability issues this year.

Rates are on a downward slope once again, which means mortgage and housing economists may want to rethink their origination forecasts for 2020.

Policymakers should focus on making origination and servicing attractive to banks and nonbanks alike instead of adopting additional standards that apply to non-depositories, the Mortgage Bankers Association says.

Lenders can take a number of steps to help ensure that borrowers are satisfied with the origination process, making them more likely to recommend the lender to friends and family.

The Golden State had the largest volume of purchase loans sold to Fannie, Freddie and Ginnie, but it lagged other states in growth rates. (Includes two data charts.)