Tag Archives: Purchase Index

After a historic decline in mortgage rates last week, a second consecutive week of rate drops has given way to a 2.2% rise in overall mortgage applications.

As overall mortgage rates edge closer to 7%, mortgage app volume experienced their fourth consecutive month of declines, with an uptick in ARM loans demonstrating that they remain a feasible option for borrowers seeking ways to reduce their monthly payments.

As fixed-rate mortgages continue to edge toward 7%, the MBA reports refinance volume has dropped off nearly 90% from last year’s totals, as both refinancing and home purchase apps declined and fell further behind last year’s record levels.

Mortgage rates continue to trend upward, with more buyers retreating from the marketplace, as the MBA reported a 14.2% weekly decline in overall app volume.

Despite overall mortgage application volume dipping 1.2% week-over-week, the MBA reports government mortgage apps rose 4% over last week, as a slight decline in rates may be enticing to first-time buyers.

Despite a four-month low reported in mortgage rates, overall application volume rose just 0.2% week-over-week, with a decline in purchase activity offset by an increase in refis.

The MBA reports that overall application volume is down yet again, with lingering economic uncertainty and affordability issues keeping prospective buyers on the sidelines.

Ongoing affordability challenges and low inventory are pushing mortgage application volume back down, after a near-month-long stretch of trending upward, according to the MBA.

As fixed-rate mortgages crawl to the 6%-mark, mortgage application volume did rise slightly for the third consecutive week, but refinance volume trended in the opposite direction, falling 80% year-over-year.

After nearly a month of declines in mortgage application volume, the MBA reported that apps rose 6.6% week-over-week, as the industry braces itself for the latest rate hike by the Fed.