Tag Archives: Purchase Mortgages

Mortgage application payments increased slightly in August to $2,170, according to MBA's Purchase Applications Payment Index, while overall homebuyer affordability declined, as homebuyers’ budgets continue to be impacted by high home prices and mortgage rates above 7%.

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.

According to a new ATTOM report, mortgage lending declined to its lowest point in nearly nine years in Q4 2022, while purchase loans decreased an estimated 26%.

Mortgage lenders reported demand growth for GSE eligible purchase mortgages over the past three months rebounded significantly in the second quarter this year.

First-time homebuyers have been touch-and-go in the housing market since the crisis, but that here today, gone tomorrow trend could be changing for the better.