Retail platforms benefited the most from a huge increase in agency refinance business from the first to the second quarter. First-time buyers held on in a precarious housing market. (Includes two data charts.)
A smaller share of Fannie/Freddie purchase loans fell in the highest-risk category during the first quarter of 2020, although there was an upswing in higher-risk refinance loans. (Includes two data charts.)
Credit unions tend to offer mortgages with lower interest rates than other lenders. However, their share of originations is relatively low and the gap between them and banks in terms of interest rates has narrowed.