Tag Archives: Weekly Mortgage Applications Survey

Mortgage rates have risen to 3.14%, up five basis points, with refi activity dipping for the fifth straight week.

With rates on the rise, a slight uptick in purchase apps compensated for a slide in refinance apps, which hit lows last seen in January 2020.

With mortgage rates hitting near 18-month highs, a new report found a 6.3% slide in both purchase and refi apps week-over-week.

As mortgage rates edge above the 3% mark, borrower incentive to refinance is waning.

Mortgage application volume rose slightly over last week, driven by a five-month high in purchase volume hot lows last seen in July.

Freddie Mac reports mortgage rates leveling off as COVID variants have led to weaker employment, a drop-off in spending, and declining consumer confidence.

Purchase apps have slid week-over-week, while the demand for refis has leveled off, as August saw a boost in the supply of homes nationwide.

While still below the 3% range, the window of opportunity for refis remains wide open; however, high asking prices are turning many away from the purchase market despite the record low rates.

Rates below the 3% mark continue to feed the refi frenzy, as increases were found in both purchase apps and refinances over the previous week.

After a slight uptick last week, mortgage application volume fell this week, as rates began to rise and fear over rising COIVD cases overshadowed strong jobs reports.