Tag Archives: Producer Price Index (PPI)

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.

The MBA reports July purchase mortgage applications for new homes dipped 16.1% year-over-year, as high prices and economic instability continue to force the nation’s home buyers to reconsider their options.

With rates still above the 5% mark, mortgage application volume fell for the fourth time in five weeks, hitting a low last seen in December of 2018.

A slight drop in mortgage rates may be a sign of market normalization, but lingering economic instability and inflationary issues remain hurdles that prospective buyers are still unable to overcome.

A rise in mortgage rates over the 5% mark, and an increase in prices has impacted April buyer activity, as buyers wait for the market to show signs of stability.

The rise in mortgage rates and inflationary concerns are impacting new residential construction, as borrower costs continue to force many prospective buyers to the sidelines.

Despite lingering supply chain concerns, there were 811,000 single-family units under construction in March, marking the highest level since 2006.

As supply chain and bottleneck issues continue to impact the housing industry, Steve Adamo of Embrace Home Loans spoke with MReport about remedies to alleviate these concerns.

Sales of new single‐family houses were at a seasonally adjusted annual rate of 772,000 in February, falling 2% below January’s rate of 788,000.

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