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AI is reshaping mortgage economics as mortgage rates stay elevated
Freddie Mac said the 30-year fixed-rate mortgage averaged 7.03% as of Sept. 24, up from 6.95% the prior week.
Mortgage rate levels remain elevated while industry participants increasingly look to AI and workflow changes to improve mortgage economics, according to HousingWire.
Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.03% as of September 24, up from 6.95% the previous week and 6.30% a year earlier, continuing the weekly pattern of higher 30-year rates highlighted in the outlet’s series.
HousingWire also pointed to a mid-September Mortgage Bankers Association forecast that trimmed its projection for single-family mortgage origination volume as Treasury yields rose and inflation stayed elevated.
The article argues that lowering the cost to originate will require disciplined processes, measurable ROI, and accountability across organizations, citing tech provider claims such as Sun West putting its cost to originate below $150 using an AngelAI system and LOS and POS providers reporting higher gross profit or profit per loan.