About 40 million households are making consistent monthly rent payments that are equal to or greater than the average monthly mortgage payment, according to one estimate.

Originations through the retail channel increased during the third quarter of 2024, but correspondent and broker production grew at a faster pace. The retail share of total first-lien originations declined to 50.8%. (Includes six data tables.)

The increase in the 10-year Treasury rate following the November election and changes in expectations for interest rates have prompted economists to revise down their projections for originations in 2025.

Digitization will speed up the lending process and can lead to lower interest rates for borrowers, according to Anne Canfield, partner at The Majority Group.

Government lending increased by 14.5% while the rest of the market rose just 4.3%.

Government-insured products accounted for 27.1% of total first-lien originations in the third quarter compared with a 25.3% share the previous quarter. Streamline refi programs helped increase FHA/VA market share. (Includes two data tables.)

A more challenging housing market has led more homebuyers to seek guidance from loan officers, according to a new J.D. Power survey.

The cost of a credit score for originations is set to increase by 41% in January. The plan prompted trade groups representing lenders to renew calls for regulators and Congress to address pricing practices for credit reporting products.

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.

PennyMac funded $31.7 billion of residential loans during the July-September corridor, a handsome 17% improvement...