Tag Archives: Mortgage Bankers Association (MBA)

A four-month high in mortgage rates has led to a steady decline in overall mortgage application volume, as the MBA reports purchase applications falling to levels last seen in 1995.

After five consecutive weeks of decreases, a slight uptick in mortgage rates forced mortgage app volume to fall nearly 8% week-over-week.

A consistent decline in mortgage rates has attracted the attention of buyers and those seeking refis, as the MBA reports a rise in mortgage apps in excess of 7% week-over-week.

For the fifth consecutive month, the S&P Dow Jones Indices reported declining home prices in the U.S., as potential buyers took a bigger step back from the market.

MBA forecasts rates and home-price growth to soften, which “should help bring more prospective buyers into the market” come spring.

The MBA reports a continued rise in borrower demand, as mortgage application volume rose for the third consecutive week, led by gains in both purchase and refi activity.

For the second consecutive week, mortgage rates have dipped, providing a much-needed boost to the housing marketplace and sparking a rise in overall mortgage app volume.

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.

The 2023 mortgage market began on a positive note, as Freddie Mac reported a week-over-week slide in mortgage rates leading to an uptick in refinance 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.