Originations in the primary market are up, but not exactly flourishing. That’s so-so news for warehouse banks who — like everyone else — are waiting for interest rates to decline more dramatically. (Includes data table.)
Hearing scheduled for May 16 to analyze massive layoffs at CFPB; Fannie economists slightly lower forecast for mortgage rates; Horizon Bank sells warehouse unit for a profit.
Warehouse commitment levels are on the rise, a sign — perhaps — of better days ahead. Meanwhile, JPMorgan continues to dominate the space. (Includes data table.)
The annual increase in conforming loan limits creates a natural experiment for economists to examine how competition from nonbanks influences the operations of depositories.
For hours, it was unclear whether a White House memo freezing federal funding would impact mortgage programs. In the meantime, government agencies announced that their single-family mortgage programs were unaffected by the planned funding pause.