Tag Archives: Alicia Huey

Along with a lack of inventory in the nation’s housing supply, Freddie Mac reports the 30-year fixed-rate mortgage continues to edge toward the 7% mark, further dampening the spring homebuying season.

With mortgage rates rising to levels last seen in March, the MBA reports that overall application volume dropped 4.6% week-over-week, amid a continued lack in the nation’s housing inventory.

“Lack of existing inventory continues to drive buyers to new construction,” said National Association of Home Builders Chief Economist Robert Dietz.

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.