Tag Archives: MBA’s Refinance Index

After two weeks of increases in overall mortgage application volume, a holiday-shortened week found volume slipping slightly, despite the 30-year fixed mortgage rate dropping to 6.49%.

The MBA reports an uptick in overall mortgage application volume week-over-week, led by a 4% rise in home purchase applications, despite an 88% year-over-year drop-off in refinance activity.

As mortgage rates remain in the 7% range, app volume fell slightly this week, with the refinance share of volume hitting a low last seen in August of 2000.

Mortgage rates exceeding the 7% mark have driven overall mortgage app volume down, with refi apps continuing to run more than 80% below last year’s pace.

As mortgage rates rose for the 10th straight week, hitting a 21-year high, housing demand continues to tail off, with the MBA reporting overall app volume falling nearly 2% week-over-week.

Continued inflationary burdens, and mortgage rates hitting 14-year highs have driven down mortgage applications this week, as the Fed continues to raise rates to combat a volatile economy.

For the first time in more than 45 days, mortgage application volume turned upward, as the MBA reported overall app volume rose nearly 4% week-over week, ahead of yet another rate hike by the Fed.

Overall mortgage application volume dipped yet again this week, falling 1.2% week-over-week according to the MBA, with rates edging near the 6%-mark and forcing more homebuyers to the sidelines.

With mortgage rates spiking upward, mortgage application volume took another hit, falling for the fourth consecutive week, as markets continued to re-assess the prospects for the economy and the path of monetary policy.

As mortgage rates jumped back well above the 5%-mark last week, the MBA reports overall mortgage app volume falling 2.3% week-over-week, crashing to lows last seen more than two decades ago.