News
Refinance surge, purchase pause drive January rate-lock narrative
2+ hour, 36+ min ago (442+ words) Refinance activity maintained strong momentum from December to January as purchase activity proved slow off the blocks to start 2026, despite sustained improvements in borrowing costs. Rate-and-term refinance lock volumes rose 50% over the month to land more than four times higher…...
Mortgage credit availability rises on refinance, jumbo demand in January
5+ hour, 43+ min ago (406+ words) An update to the Mortgage Bankers Association's Mortgage Credit Availability Index (MCAI) shows mortgage availability broadly increased in January, fueled by expanded offerings for cash-out refinances, adjustable-rate mortgages (ARMs) and jumbo loans. The MCAI rose 1.1% over the month to land…...
Stagnant mortgage rates threaten purchase demand as buyers hit pause
3+ day, 23+ hour ago (757+ words) Nearly every prospective homebuyer who responded to a recent poll said they will hesitate to purchase in 2026 if mortgage rates remain above 6% this year, underscoring the battle for sales that mortgage originators will once more embark on this spring with…...
Consumer sentiment treads water in early February
4+ day, 2+ hour ago (458+ words) An initial reading of economic sentiment among U.S. consumers in February showed outlooks remained largely unchanged from January, with slightly higher optimism on current economic conditions compared to future economic prospects. New survey data released Friday shows that the University of…...
Mortgage rate lock volumes see mixed recovery in January after recent pullback
5+ day, 1+ hour ago (558+ words) Mortgage rate lock volumes improved marginally in January after a December decline that transcended seasonal norms, which capital markets advisory firm Mortgage Capital Trading (MCT) had attributed to "protracted uncertainty" for cautious consumers at the time. Overall lock volumes had…...
Mortgage rates stay in a tight range above 6%
5+ day, 3+ hour ago (345+ words) After briefly dipping below 6% in early January, the 30-year fixed-rate mortgage has remained in a narrow range over the past three weeks, with weekly swings measured by three basis points at most. The 30-year rate averaged 6.11% for the seven-day period…...
Government shutdown again delays vital read of U.S. labor market
1+ week, 5+ hour ago (580+ words) For the second time in as many quarters, a breakdown in the federal appropriations process has delayed the release of crucial economic indicators relied on by businesses, investors, consumers and policymakers to inform their views of U.S. market conditions. Hopes that…...
Why Stephen Miran is outlasting his temporary term on the Fed’s governing board
1+ week, 22+ hour ago (1114+ words) When President Donald Trump nominated Stephen Miran last August to fill a temporary vacancy on the Board of Governors of the Federal Reserve, the president said he intended to name a permanent replacement when the temporary term ended. That term…...
Kevin Warsh nominated for Fed chair, capping months of speculation
1+ week, 4+ day ago (678+ words) The pick is in. Kevin Warsh will be the next chairman of the Federal Reserve, pending Senate confirmation. President Donald Trump made the official announcement Friday morning in a post on Truth Social. "I have known Kevin for a long…...
Powell defends Fed rate-cut pause, attendance at Supreme Court hearing
1+ week, 5+ day ago (1713+ words) That the first four reporters to question Jerome Powell would ask him about the political maelstrom rocking the U.S. central bank was to be expected. That the reticent chairman of the Federal Reserve would decline to stick his foot in his…...