Tag Archives: Joel Kan

Mortgage application volume held steady week-over-week according to a new report, as a slight drop in refis was countered by a rise in home purchases.

As mortgage rates edge above the 3% mark, borrower incentive to refinance is waning.

Rates have inched higher and higher over the past few weeks, finally moving past the 3% mark for the first time since late May.

Mortgage application volume rose slightly over last week, driven by a five-month high in purchase volume hot lows last seen in July.

Freddie Mac reports that rates are stabilizing, along with a modest improvement in the nation’s housing supply, as more homebuyers are poised to take advantage of these still-record-low rates.

Economic uncertainty and a rise in Delta variant cases has kept mortgage rates low over the past month, with refinance volume wavering, yet continuing to outpace purchase apps.

Rates below the 3% mark continue to feed the refi frenzy, as increases were found in both purchase apps and refinances over the previous week.

After a slight uptick last week, mortgage application volume fell this week, as rates began to rise and fear over rising COIVD cases overshadowed strong jobs reports.

With rates continuing to linger below the 3% mark and job growth showing prolonged gains, mortgage applications are picking up steam, led by a high in refi volume not seen since February.

After a down week, mortgage application volume is on the rise, with sub-3% rates powering refi volume as more and more are taking advantage of record-low rates.