Tag Archives: Weekly Mortgage Applications Survey

Riding the hopes that the Federal Reserve will slow its pace of rate hikes, Freddie Mac reported that the 30-year, fixed-rate mortgage fell yet again, as house prices soften with 2022 coming to a close.

After two weeks of increases in overall mortgage application volume, a holiday-shortened week found volume slipping slightly, despite the 30-year fixed mortgage rate dropping to 6.49%.

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 mortgage rates remain in the 7% range, app volume fell slightly this week, with the refinance share of volume hitting a low last seen in August of 2000.

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.

Continued inflationary burdens, and mortgage rates hitting 14-year highs have driven down mortgage applications this week, as the Fed continues to raise rates to combat a volatile economy.

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.

As mortgage rates jumped back well above the 5%-mark last week, the MBA reports overall mortgage app volume falling 2.3% week-over-week, crashing to lows last seen more than two decades ago.

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.