“A trade war would increase costs, including housing construction costs, and potentially affect employment, pressuring demand and mortgage performance,” according to Fitch Ratings.

The average interest rate on a 30-year fixed-rate mortgage declined from 6.81% on Nov. 27 to 6.69% on Dec. 5.

Opposition from Rep. Patrick McHenry, R-NC, stalled legislation this year that would limit trigger leads.

The final rule will implement without changes a proposed rule issued in July 2024.

The pending issuance is the second-smallest HELOC securitization from the firm this year.

Locks for refis plummeted in November following a rise in interest rates.

Among the top 20 Ginnie issuers in November there were just two federally insured depositories: U.S. Bank and Navy Federal.

Declining interest rates through September helped increase the flow of both purchase mortgages and refinances into Ginnie MBS in November. Issuance increased by 10.1% on a monthly basis, and growth in FHA refi business outpaced VA refi activity. (Includes two data tables.)

The retail channel accounted for 50.8% of total first-lien originations in the third quarter of 2024, down from a 53.3% share in the second quarter.

While layoffs aren’t increasing, new entrants and individuals who lose jobs are having a more difficult time regaining employment.