At the conclusion of Fed’s two-day July meeting, the Federal Open Market Committee moved to raise the base interest rate by 25 basis points, with all members voting in favor of the action.
Read More »Mortgage App Volume Falls for Third Consecutive Week
As mortgage rates creep toward the 7% mark, the MBA reports a third straight week of waning interest in mortgage apps, with a lack of inventory playing a role in purchase app drop-off.
Read More »After Four Weeks of Increases, Mortgage Apps Tick Downward
Continued low mortgage rates have not equated into a strong start to the spring homebuying season, as the MBA reports a decline in overall application volume after four consecutive weeks of increases.
Read More »Mortgage Apps Surge With Near-30% Weekly Rise
As the fixed-rate mortgage fell to a near-five-month low, prospective buyers and those seeking refis brought life into the marketplace, boosting mortgage apps 27.9% over last week’s totals.
Read More »Year Kicks Off With Slight Rise in Refi Apps
The MBA reports that, despite rates still in the 6% range, refinance apps increased 5% over the previous week—but are still 86% lower year-over-year.
Read More »Refis Begin to Trend Upward
The MBA reports that the downturn in mortgage rates has triggered homebuyer interest, as overall app volume has increased for the second consecutive week, and refinance activity rose 6% week-over-week.
Read More »FOMC Hikes Rates for Seventh Time in 2022
This latest action by the Federal Reserve to raise rates is intended to remove money from the economy, reduce demand, and drive prices lower as inflation nears a 40-year high.
Read More »Purchase Mortgage Apps Fall 42% YoY
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.
Read More »Lower Volume, Staffing Cuts Expected in 2023
The most recent outlook from the Mortgage Bankers Association expects total origination volume to decline nearly 10% next year. Click through to find what else the MBA is forecasting.
Read More »Fixed-Rate Mortgages Reach 20-Year High
After a slight break last week, Freddie Mac reports the fixed-rate mortgage inched closer toward the 7% mark, as recessionary concerns and housing affordability continue to drive down housing demand.
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