Tag Archives: Joel Kan

June home sales suffered for the third straight month, due to a rise in regulatory costs, high-priced materials, and a lack of labor.

The up again/down again world of mortgage applications continued this week, dropping after a week of upticks.

After a few weeks of declines, mortgage application volume took a giant step forward, as rates continue to dip below the 3% mark.

An analysis of mortgage application volume finds a decline in volume, with higher prices continuing to prevail despite rates in the 3% range.

Continued elevated demand and the high cost of building materials are impacting mortgage applications for new homes for the second consecutive month.

After three weeks of declines, mortgage applications have reversed course, as rates still linger in the purchase and refi-friendly 3% range.

Even with rates bordering the 3% mark, both purchase applications and refi volume saw slight declines this week with the continued cloud of low inventory and high prices factoring into homebuyer’s decisions.

Contrary to the fact that homes remain in demand, tight supply and a rise in listing prices are driving down mortgage application volume.

This week, the MBA’s seesaw mortgage applications survey will provide some insight into the state of the marketplace, with continued low rates not enough to coax buyers off the fence for fear of overpaying.

As the nation continues to struggle to keep up with housing demand, more Americans are deciding to ride out the storm and not give into exorbitant prices on limited inventory.