Tag Archives: Mortgage application volume

After weeks of hovering just above the 3% mark, mortgage rates changed course for the second straight week, reaching highs last seen prior to the pandemic.

A rise in rates over the last week did not stop the charge of conventional purchase applications, as prospective buyers locked in rate before even more drastic increases.

Inflationary concerns, spurred by continued labor and supply chain issues, forced mortgage rates to jump by 0.23% this week, as rates rose across all mortgage loan types.

Despite overall mortgage app volume on the upswing to begin 2022, the rise in rates has dropped conventional refis to their lowest levels since January 2020.

A 3% decline in purchase applications was offset by a 2% rise in refi activity as overall mortgage application volume slid for the second consecutive week.

In a holiday-shortened week, mortgage rates rose slightly, hitting 3.11%, yet remaining within range of all-time lows.

As mortgage rates begin to ascend, overall mortgage purchase and refinance application volume has begun to tail off.

On the heels of the Fed’s tapering announcement, mortgage apps climbed over the previous week, led by an uptick in refis.

Overall mortgage application volume declined from last week, led by a drop in refinance volume to levels not seen since January 2020.

Loan originators saw a 2.44% decrease in per-loan commission rates in the third quarter, as purchase apps held steady, but refi apps tailed off.