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.

The correspondent lender has removed certain overlays on streamlined refinance programs at FHA and VA. Newrez, meanwhile, added some overlays.

FHA extends foreclosure moratorium tied to LA wildfires; HUD rescinds Affirmatively Furthering Fair Housing rule; CSBS seeks Ginnie servicing reforms; RHS delays servicing changes; Rate offers complimentary, temporary insurance for first responders; bill in Senate would speed mortgage processing at Bureau of Indian Affairs.

The Senate voted 55-44 to confirm Scott Turner as housing secretary, paving the way for the Trump administration to install new leadership at FHA and Ginnie Mae.

The pause was ultimately rescinded following court injunctions. In the meantime, participants in government-insured mortgage programs faced uncertainty.

The changes were set to take effect Feb. 5. Instead, HUD instituted a 90-day delay to review the final rule developed by the Biden administration.

VA sets return-to-office requirements for employees; Indecomm adds FHA underwriting; RHS interest rates increase; number of downpayment assistance programs grows.

With a new federal administration in charge, the MBA renewed its calls for reductions to FHA premiums. However, the Trump administration is unlikely to cut premiums.

VA origination fees will stay at elevated levels through mid-2034 rather than coming down near the end of 2031. The extension was prompted by a bill that passed Congress with broad bipartisan support.

Endorsement activity involving traditional HECMs declined slightly and production of HECMs for home purchase increased during the third quarter. Mutual of Omaha remained the top HECM lender. (Includes three data tables.)