Tag Archives: Weekly Mortgage Applications Survey

Continued low mortgage rates have not equated into a strong start to the spring homebuying season, as the MBA reports a decline in overall application volume after four consecutive weeks of increases.

The MBA reports that mortgage app volume rose for the fourth consecutive week, fueled by a continued drop in rates at the outset of the spring buying season.

The dip in mortgage rates has kicked the spring homebuying season off on the right foot, as the MBA reports overall app volume on the rise for the third straight week, amid uncertainty over the health of the banking sector.

Overall mortgage application volume fell 5.7% week-over-week, with homebuyers again retreating to the sidelines as a spike in mortgage rates hampered affordability.

After five consecutive weeks of decreases, a slight uptick in mortgage rates forced mortgage app volume to fall nearly 8% week-over-week.

A consistent decline in mortgage rates has attracted the attention of buyers and those seeking refis, as the MBA reports a rise in mortgage apps in excess of 7% week-over-week.

As the fixed-rate mortgage fell to a near-five-month low, prospective buyers and those seeking refis brought life into the marketplace, boosting mortgage apps 27.9% over last week’s totals.

The MBA reports that the downturn in mortgage rates has triggered homebuyer interest, as overall app volume has increased for the second consecutive week, and refinance activity rose 6% week-over-week.

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%.