2018 Mortgage Origination Forecast Increased
The forecast for mortgage originations for next year has been modestly raised. Meanwhile, this year's refinance outlook grew at the expense of projected home purchase financing.
2017 US Origination Forecast Raised, 2018 Trimmed
|Purchases Pull Down Weekly Mortgage Business
Home purchase financing activity tumbled during the week that included Veterans Day, dragging down overall business. But cashout refinance activity was the strongest it's been in over four years.
The economic outlook for this year's single-family loan originations has grown more optimistic. But next year's forecast is slightly more pessimistic.
KeyBank Plans Big Mortgage Growth
With a bank acquisition that it completed last year, KeyCorp has plans to significantly boost the volume of its single-family loan originations.
GSE Refinances Rise to 6-Month High
Refinances of loans backed or owned by the government-sponsored enterprises climbed to a six-month high as Making Home Affordable refinance volume fell to an all-time low.
Mortgage Lenders Looser Than Year Ago
Home loans closed last month had lower credit scores, higher loan-to-value ratios and higher debt-to-income ratios than a year earlier. While turn times have improved over that same period, closing rates have not.
U.S. Mortgage Originations, Outstandings Increase
The latest gauge of residential loan production indicates strong quarterly activity. Mortgages outstanding continued to grow as delinquency has moved lower.
Refinances Drive Up Weekly Mortgage Applications
A refinance burst bumped up weekly mortgage applications, while a healthy year-over-year ascension has been recorded for purchase financing applications.
US Book of Mortgage Business Expands, Lates Down
As quarterly loan originations moved higher at the nation's home lenders, the balance of outstanding mortgages was up and delinquency was down. Home-secured credit lines outstanding contracted.