Despite mortgage rates steadily falling over the last month of 2023, overall mortgage application volume slipped nearly 10% over a two-week span to close out the rollercoaster ride that was the housing market of 2023.
Read More »After Weeks of Decline, Mortgage Apps Begin to Trend Upward
With mortgage rates averaging 40 basis points higher than one month ago, overall mortgage application volume deviated from the norm and rose slightly week-over-week, led by an increase in ARM volume.
Read More »Mortgage Applications Reach Lowest Level in Nearly Three Decades
“Mortgage applications decreased for the seventh time in eight weeks, reaching the lowest level since 1996,” said Joel Kan, MBA’s VP and Deputy Chief Economist. “Last week’s decline was driven by a 5% drop in refinance applications, to the weakest reading since January 2023.”
Read More »Mortgage Apps Drop 30% YoY
Mortgage application volume fell has fallen for a month straight, with purchase activity constrained by rates nearing the 7% mark and a lack of for-sale inventory.
Read More »Mortgage App Volume Falls for Third Consecutive Week
As mortgage rates creep toward the 7% mark, the MBA reports a third straight week of waning interest in mortgage apps, with a lack of inventory playing a role in purchase app drop-off.
Read More »Weekly Mortgage Application Volume Up Nearly 4%
While both conventional and government home purchase applications increased last week, activity remains nearly 30% below last year’s pace, as elevated mortgage rates and low supply continue to moderate the market.
Read More »Mortgage App Volume Falls to Lowest Level Since 1996
Elevated mortgage rates continue to accentuate affordability concerns, keeping many prospective buyers out of the market. Meanwhile, the MBA reports application volume slid to close out 2022.
Read More »Drop in Rates Spurs Rise in Overall Mortgage App Volume
As the fixed-rate mortgage slips another week, the MBA reports that mortgage apps have risen week-over-week amid news of the Fed’s latest action to correct the nation’s inflationary concerns.
Read More »Second Consecutive Week of Rate Drops Spurs App Volume Uptick
After a historic decline in mortgage rates last week, a second consecutive week of rate drops has given way to a 2.2% rise in overall mortgage applications.
Read More »Share of ARM Loans Climbs to 14-Year High Mark
As overall mortgage rates edge closer to 7%, mortgage app volume experienced their fourth consecutive month of declines, with an uptick in ARM loans demonstrating that they remain a feasible option for borrowers seeking ways to reduce their monthly payments.
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