Tag Archives: adjustable-rate mortgage (ARM)

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.

The MBA reports that overall app volume dropped nearly 6% week-over-week, with the 30-year fixed-rate mortgage jumping nine basis points to its highest level in nearly two months.

However, in good news for buyers, mortgage rates averaged 6.38% in April, a full 17 basis points lower than was reported in March.

Elevated rates continue to both impact homebuyer affordability and weaken demand for refinancing, as the MBA reports overall app volume fell 1.2% week-over-week.

The MBA reports a near 9% week-over-week slide in mortgage applications, as cautious buyers proceed through the spring season amid continued affordability challenges and limited supply.

Continued low mortgage rates have not equated into a strong start to the spring homebuying season, as the MBA reports a decline in overall application volume after four consecutive weeks of increases.

The MBA reports that mortgage app volume rose for the fourth consecutive week, fueled by a continued drop in rates at the outset of the spring buying season.

The dip in mortgage rates has kicked the spring homebuying season off on the right foot, as the MBA reports overall app volume on the rise for the third straight week, amid uncertainty over the health of the banking sector.

After three weeks of consecutive declines, mortgage application volume took a sudden turn upward this week, despite mortgage rates nearing the 7% mark.

A four-month high in mortgage rates has led to a steady decline in overall mortgage application volume, as the MBA reports purchase applications falling to levels last seen in 1995.