Tag Archives: Purchase Market

A recent upward trend in Treasury yields has pushed mortgage rates above the 7.5% mark, further complicating the road to affordability for many as mortgage apps have dropped 6% week-over-week.

Despite a rise in overall mortgage apps week-over-week, the MBA reports that mortgage rates are a percentage point higher than a year ago, and when combined with low for-sale inventory, is constraining home buying activity in many markets.

While weaker affordability has been the focus of the housing market in the first half of 2018, according to Freddie Mac, these factors are likely to keep total mortgage loan originations slightly down this year.

Mortgage loan originations showed a strong close for the first quarter as borrowers took more chances on the back of continued growth in interest rates, a report found.

Consumer attitudes toward the current condition of the home selling market and future home rental prices may launch purchase activity forward for the rest of 2015, according to Fannie Mae’s June 2015 National Housing Survey. Optimism among consumers about the housing market has reached new survey highs and strong job and income growth are making consumers appear more favorable in the selling market, indicating a possible increase in the existing home supply.