“Potential homebuyers shrugged off the current economic and mortgage rate uncertainties and returned to the market,” said Joel Kan, a vice president and deputy economist at the MBA.
Two Harbors said the structure of UWM’s offer is “fundamentally illusory and predatory,” noting that UWM’s stock price has been declining, among other issues.
“The outlook for the months ahead remains fragile as volatile mortgage rates and economic uncertainty continue to be headwinds,” said Lisa Sturtevant, chief economist at Bright MLS, a multiple listing service covering the Mid-Atlantic region.