Origination

Recent increases in mortgage rates have CoreLogic asking the question, "Will rising rates lead to declining originations?" When it comes to purchases, CoreLogic economists say in a recent report, "Though mortgage interest rates have recently risen, CoreLogic does not expect any significant slowing in purchase origination volumes." In contrast, "[t]he greatest impact of increasing interest rates on the mortgage originations market will be felt on refinance volumes."

While new housing production is expected to see a healthy rebound later this decade, Fannie Mae's Economic and Strategic Research (ESR) group believes "an anticipated slowdown in workforce expansion suggests more modest prospects for new housing demand and construction than witnessed historically." Using the Census Bureau's new projections for population growth over the coming years, Fannie Mae's team says labor force growth could range from as high as 0.9 percent (under optimistic conditions) to as low as 0.4 percent

A July monthly property intelligence report (PIR) conducted by Dataquick, a provider of real estate information solutions, reveals a monthly and annual rise in home prices for every single participating U.S. county out of the 42 evaluated. In fact, home prices have hiked an average of over 13 percent versus this time last year. Per DataQuick's data, this rise in price has been directly linked to fewer foreclosures, limited property availability, and an overall decline in transactions.

In Florida, mortgage technology provider MortgageFlex Systems, Inc., announced the addition of Laura White to its professional services team.

The second quarter saw modest gains in home sales in Connecticut, according to the Warren Group. Second-quarter sales of single-family homes totaled 6,898, a nearly 1 percent increase over Q2 2012. In June alone, home sales were up 0.4 percent (the second straight month of increases) to a total of 2,602.

Led by multifamily activity, new housing permits and starts rose in July with new construction, continuing a shift from single-family homes.

Despite lackluster performance from the economic sector, the housing recovery will press on and stimulate overall growth, according to Freddie Mac's most recent economic and housing outlook.

Total Mortgage Services, LLC now has its Arizona Mortgage Banker License and is licensed to originate residential loans in the state, the company announced.

Having spent the last several months bouncing around, average fixed mortgage rates were little changed over the last week as market speculation settled.

In Santa Ana, First American Title Insurance Company announced it has hired Kevin Wall as president of its First American Mortgage Services (FAMS) division.