Tag Archives: Mortgage application volume

Overall mortgage volume tailed off slightly from last week’s totals, as climbing rates continue to dampen refi and purchase activity.

After taking a giant leap toward the 4% mark, mortgage rates scaled back this week, as most economists feel home price growth will remain firm before cooling off later this year.

A rise in rates is putting the brakes on the refi market, as overall app volume continues its downward turn.

As rates shift upward, eager buyers and refinance-seekers are locking in before anticipated hikes continue.

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.