refinance News & Analysis
3 articles
Market Mood
Onity (ONIT) Reports Q2 2025 Earnings and $20M Net Income
Onity (ONIT) reported a GAAP net income of $20 million, or $2.40 per share, for Q2 2025, with an annualized return on equity (ROE) of 17%. Despite facing market volatility that impacted origination revenue by $4 million, the company achieved an increase in book value to $60 per share, a 5% rise year-over-year. Adjusted pretax income stood at $16 million, demonstrating solid financial performance amid the challenges. The Mortgage Bankers Association recorded a 43% increase in refinance applications year-over-year, indicating resilient demand despite the market's uncertainty.
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Mortgage Applications Rise 1.8% as Rates Reach One-Month Low
Mortgage application volume increased 1.8% last week compared to the previous week, according to the Mortgage Bankers Association. The average interest rate for 30-year fixed-rate mortgages fell to 6.42% from 6.51%. Refinance applications surged by 5% week-over-week and were up 15% from the previous year. However, homebuyer applications decreased by 1% weekly and were 3% lower than this time last year, reflecting ongoing economic uncertainty.
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March 2026 Mortgage Rates: 30-Year Fixed at 6.47% and Refinance Rates Reported
As of March 29, 2026, the average 30-year fixed mortgage rate is 6.47%, rising 10 basis points since last Friday, marking the highest level since September 2025. The 15-year fixed mortgage rate is 5.90%. Current rates include 20-year fixed at 6.50%, 5/1 ARM at 6.71%, and 30-year VA at 5.99%. For refinance options, the 30-year fixed rate is 6.60%. These increased rates indicate potential challenges for homebuyers and may affect the real estate market dynamics.
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