Tag: Mortgage

Foreclosure Tides are Rising, But Far from a Wave

June 08, 2026 by Ryan McKeveny

Although a rising tide of foreclosures is justifiably starting to garner some headlines, aggregate risk is still relatively muted – with the increases coming from all-time lows and current levels still far below historical averages. Specifically, as of 1Q26, just 0.6% of all mortgages were in the foreclosure process, up 15 basis points year over year, but still less than half the 1.4% long-term average since 1979. Foreclosure starts are also gravitating higher, but at 0.20% of outstanding mortgages, the quarterly start rate also remains roughly half of its historical average. These dynamics certainly bare monitoring, but for now, the overall trend is one of slow normalization and not a fast-rising wave...

Filed Under
Existing Home Sales Homeownership Mortgage Mortgage Rates

Origination Market Shares from 2025 Show UWM and RKT Still Dominating

May 19, 2026 by Kevin Kaczmarek

Recently-released 2025 loan-level origination data show United Wholesale (UWM) and Rocket / Mr. Cooper (RKT) held on to their top two rankings, with UWM again being the market leader in first-lien purchase originations and RKT in first-lien refinances as well as closed-end second liens...

Filed Under
Mortgage Mortgage Rates

Mortgage Rates, The “Stuck Factor,” and the Return of Housing Mobility

April 02, 2026 by Kim Gray

At Walker & Dunlop’s recent Investor Day, Ivy Zelman delivered a clear message: today’s housing market is not defined by a lack of demand; it is defined by constraint. While affordability remains stretched, the more immediate force shaping housing activity is what Zelman describes as the “stuck factor.” Elevated mortgage rates relative to historic lows have fundamentally altered homeowner behavior, limiting mobility and suppressing transaction volume, even as underlying life events continue to drive movement...

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Mortgage Rates

Housing Policy Takes Center Stage… Carrots and Sticks Galore!

January 16, 2026 by Alan Ratner

It’s been a dizzying start to the year for the homebuilding industry. Since October, President Trump, FHFA Director Pulte and other White House officials have been meeting with homebuilding executives to discuss the country’s housing affordability crisis and what steps the industry and government can take to relieve this burden on potential homebuyers...

Filed Under
Affordability Home Pricing Homebuilding Homeownership Interest Rates Mortgage Mortgage Rates

Cautiously Optimistic on the Main Course for 2026… with a Side of Wage Garnishment

January 08, 2026 by Ryan McKeveny

Looking ahead to 2026 for the housing market and its various subsectors, there are several reasons for optimism. We enter 2026 with mortgage rates at 6.2%, down 75 basis points from a year ago and near the lowest levels since 3Q22. Combined with home price growth that has lagged income growth over the last year – a trend we expect to continue...

Filed Under
Affordability Home Improvement Home Pricing Homeownership Interest Rates Macro Housing Mortgage Mortgage Rates

Student Loan Debt Looming as Affordability Constraints Stretch Further

July 13, 2023 by Alan Ratner

Given a combination of the recent increase in mortgage rates and a reacceleration in home prices over the last three months, the current P&I payment on an average new home stands at roughly $3,000 per month – up nearly 70% from two years ago and 25% above trend line...

Filed Under
Affordability Homeownership Millennials Mortgage Rates Student Debt

FHA Borrowers Cry "Uncle" for Downpayment Help

August 25, 2022 by Kevin Kaczmarek

Entry-level credits are facing a unique set of macro circumstances that have made it increasingly challenging to navigate the home purchase market. Prospective homebuyers are now having to factor in higher monthly mortgage payments, leaving less room for other expenses, while at the same time higher inflation eats away at how much...

Filed Under
Affordability Entry-Level Mortgage

With Cash-Outs Now Dominating Refinances, Which Lenders Are Best Positioned?

May 19, 2022 by Kevin Kaczmarek

In 2021, elevated home price appreciation alongside low rates resulted in a mortgage origination market ideal for cash-out refinances, which saw unit volumes increase 39%, building on 50% growth in 2020. Many lenders saw the opportunity to create a bigger presence in this market...

Filed Under
Mortgage Mortgage Rates

Share of Homebuyers With Weaker Credit Profiles Bouncing Back, But Not Everywhere

February 03, 2022 by Kevin Kaczmarek

As we noted in our latest mortgage survey and November newsletter, lower-quality credits have been gaining share in the home purchase market and likely will continue to do so, barring a sudden resurgence in refinance activity. Some may ask how this can be the case given daily media headlines describing red-hot housing markets and affordability crises. Before addressing that, we should examine some facts...

Filed Under
Affordability Demographics Homeownership Macro Housing Mortgage Mortgage Rates New Home Sales

Is the "Pig in the Python" Back?

June 24, 2021 by Ivy Zelman & Rachel Rockey

In 2009, when distressed activity was top of mind, we were vocal in our concern that the buildup of foreclosure moratoriums was portraying a false sense of security at a time when industry participants and investors were hoping for a bottoming out in the market. Our views were justified as...

Filed Under
Affordability Existing Home Sales Homeownership Housing Macro Housing Mortgage Supply