Tag Archives: Mortgage application volume

As mortgage rates dropped toward levels last reported in May 2023, the MBA reported a rise in purchase application activity, led by both Conventional and FHA purchase apps.

Despite the fixed-rate mortgage dipping slightly over last week, rates still linger nearly 30 basis points higher than they were a month ago. The MBA reports purchase apps have dropped to their lowest levels since 1995, and refi apps to points last found in January 2023.

“Incoming data shows that the construction of new homes rebounded in September, but as rates keep rising, home builders appear to be losing confidence,” said Freddie Mac Chief Economist Sam Khater. Check out the data and further insights after the link.

A recent upward trend in Treasury yields has pushed mortgage rates above the 7.5% mark, further complicating the road to affordability for many as mortgage apps have dropped 6% week-over-week.

As mortgage rates advanced upward to levels last seen 20 years ago, the MBA reports overall application volume slipping yet again after a quick one-week rebound.

Despite mortgage rates hitting the highest levels seen in a month, the MBA reports a week-over-week rise in overall mortgage application volume, led by renewed interest in FHA and conventional purchase apps.

After the fixed-rate mortgage hit levels recorded 21 years ago, Freddie Mac reported a five-basis point week-over-week slip in rates, and despite continued high rates, the nation’s short supply is keeping house prices steady.

Despite fixed-rate mortgages moving upward to levels last recorded in December 2000, the MBA reports both purchase and refi apps rose week-over-week, the first such increase in over a month.

With mortgage rates surpassing the 7% mark, the MBA reports yet another dip in weekly purchase and refi apps as homebuyers struggle in the face of a depleted housing supply and elevated mortgage rates.

The MBA reports that overall mortgage application volume fell for the second straight week, with limited housing inventory and rates nearing the 7% mark hampering affordability for many potential buyers.