Tag Archives: adjustable-rate mortgage (ARM)

After weeks of rising mortgage rates, continued economic unpredictability has driven rates down slightly this week, as homebuilder sentiment hit its lowest level in 24 months.

With interest by prospective buyers waning, mortgage application volume fell 11% week-over-week, as economic volatility has forced some households to delay their home search.

After weeks of declines, mortgage application volume has trended upward, as refis slowly begin to rise with mortgage rates dipping slightly.

Not since early 2011 have mortgage rates hit the 5% mark, but this week, that became a reality, as elevated home prices and short supply are making the dream of homeownership an expensive proposition.

With mortgage rates jumping for four consecutive weeks, overall mortgage application volume continues to suffer, dropping 6.3% over the previous week.

After the Fed decided to raise rates last week, mortgage rates followed suit and edged up to 4.42%, up 26 basis points over last week and forcing more prospective buyers to the sidelines.

Overall mortgage application volume fell week-over-week, as investors continue to weigh the impact of rapidly increasing inflation nationwide.

Inflationary concerns and the Ukrainian conflict are factoring into mortgage rate volatility that is forecast to continue in the short-term.

Douglas G. Duncan, SVP and Chief Economist for Fannie Mae, discusses what we should expect out of the housing market in 2022.

As the military conflict in Ukraine pushed U.S. Treasury yields lower, the MBA reports that purchase and refi application volume climbed week-over-week.