FHA-to-FHA refis increased by nearly 70% in the fourth quarter while purchase mortgage volume slid 12.4%. United Wholesale Mortgage remained the largest FHA lender in 2024.

The retail share of total first-lien originations declined to close to 50% in 2024. Brokers took share from the retail channel, led by United Wholesale Mortgage. (Includes six data tables.)

The average interest rate on a 30-year fixed-rate VA mortgage declined from 6.417% on Feb. 20 to 6.094% on Feb. 28.

Jumbo originations increased by more than double digits from the third to the fourth quarter of 2024. On an annual basis, the jumbo share of total originations held steady. (Includes data table.)

Economists caution that forecasts for interest rates on mortgages come with more uncertainty than usual due to Trump administration policies on tariffs and other issues.

The boost in refi business contrasted with lackluster performance in purchase mortgages.

Investor loan origination volume bucked seasonal trends in December, prompting optimism for 2025.

To increase already substantial market shares, nonbank mortgage companies are investing in proprietary technology for originations and servicing.

Originations of first liens increased slightly in the fourth quarter. For the full year, production was up nearly 15% compared with 2023 as lower interest rates helped to boost lending. (Includes two data tables.)

Following a strong jobs report, many economists now expect the Fed to keep rates unchanged. Also, concerns about policies from the Trump administration are helping to drive up the 10-year Treasury rate.