Lending and Originations

Non-QM specialist adds 15-plus year industry veteran who will be responsible for assisting Mortgage Brokers and Correspondent Lenders scale their non-QM business operations.

The wild ride known as the U.S. housing market slowed dramatically in the fall of 2022, as mortgage rates surged and home prices remained high.

Freddie Mac reports that 2023 has begun with a second consecutive week of mortgage rate hikes, with app activity sinking to a quarter-century low as high rates continue to weaken the housing market.

Elevated mortgage rates continue to accentuate affordability concerns, keeping many prospective buyers out of the market. Meanwhile, the MBA reports application volume slid to close out 2022.

First American reports that between September 2022 and October 2022, rose nearly 9% month-over-month, with the rapid annual decline in affordability driven by a 12% annual increase in nominal house prices.

CoreLogic reports that home price appreciation year-over-year was up for the 130th consecutive month in November, but growth dropped to single digits at just 8.6%.

Mortgage rates trended upward to close out the year, as Freddie Mac’s Chief Economist forecasts the housing will remain weak throughout the winter.

Marking a shift from 2021's leaders from the West Coast, a new Zillow study of the nation’s most searched markets found the town of Prairie Village at the top of its popularity rankings with site-leading page views of for-sale listings per day.

Freddie Mac reports the fixed-rate mortgage sliding for the sixth straight week, with the downward trend in rates resulting in a rise in refis, offsetting a week-over-week decrease in purchase activity.

The MBA reports that the downturn in mortgage rates has triggered homebuyer interest, as overall app volume has increased for the second consecutive week, and refinance activity rose 6% week-over-week.