Tag Archives: Purchase Mortgage Applications

“Homebuyer affordability improved for the second consecutive month in December as interest rates declined significantly from recent highs,” said Edward Seiler, MBA’s Associate VP of Housing Economics and Executive Director for the Research Institute for Housing America. Here’s what to expect as we approach spring.

First American's latest Potential Home Sales Model revealed mortgage rates declined in November, "igniting cautious optimism in the industry.”

“Applications for purchase loans on newly constructed homes remained strong in July, up 36% annually, as new homes continued to account for a growing share of homes available for sale,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

As high mortgage rates and inflated home prices persist, a new report from the Mortgage Bankers Association revealed the national median payment applied for by purchase applicants increased nearly 5% in February.

Stock market and Treasury yield volatility continued last week and so did the downward trend of mortgage rates, which opened up more opportunities for refinancing, but mortgage applicants did not take advantage of theses savings.