Tag Archives: Mortgage Bankers Association (MBA)

The MBA reports that overall mortgage application volume rose this week, jumping after a week of declines, as fixed-rates continued to slide toward the 6% mark.

“With the spring buying season underway, lenders are grappling with the threat of a recession and tighter overall financial conditions following the recent bank failures,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

Average production volume was $2.6 billion (8,371 loans) per company in 2022, down from $4.9 billion (16,590 loans) per company in 2021.

Even as mortgage rates edge closer to the 6% mark, homebuyers nationwide are faced with the prospect of low inventory, with new listings having fallen 21.8% year-over-year nationwide.

The Bureau’s new rule will provide data on small business lending to give investors and lenders more insight into identifying opportunities that support economic growth.

Freddie Mac reports that mortgage rates have fallen for the third consecutive week, however prospective buyers have been handcuffed by a short supply of housing inventory.

The MBA reports that mortgage app volume rose for the fourth consecutive week, fueled by a continued drop in rates at the outset of the spring buying season.

Mortgage rates fell for the second consecutive week, spurring a jump in mortgage apps at the outset of the spring homebuying season.

The dip in mortgage rates has kicked the spring homebuying season off on the right foot, as the MBA reports overall app volume on the rise for the third straight week, amid uncertainty over the health of the banking sector.

“For the third consecutive quarter, the average pre-tax net production income was in the red, reaching a new survey low of 99 basis points of loss in the final three months of 2022,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.