Purchase loan applications jump by a seasonally adjusted 11% after 5 consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs
Applications for purchase loans have dropped 4 weeks in a row, plummeting by a seasonally adjusted 10% last week, according to a survey of lenders by the Mortgage Bankers Association
The trend could bode well for the spring homebuying season, the Mortgage Bankers Association said Wednesday, but Federal Reserve policymakers may take their time before cutting rates
After 3 straight weeks of declines in mortgage applications, demand for purchase loans remains at the lowest level since 1995 for the 2nd week in a row
Demand for purchase loans down 18% week over week and 41% from a year ago as mortgage rates rise for the second week in a row to hit new 2023 highs, MBA survey shows
After 2 months of declines, mortgage rates are now at their lowest level since September with potential to spur spring homebuying: MBA economist
As mortgage rates continue to retreat from 2022 highs, all eyes will be on Federal Reserve as policymakers conduct their final meeting of the year next week
No sign of a rebound in purchase applications, but August data showing a strong job market 'should support housing demand,' MBA economist says
Decline in purchase applications aligns with slower homebuilding activity due to reduced buyer traffic and ongoing building material shortages, according to the Mortgage Bankers Association
Purchase loan applications continue to be weaker 'due to the combination of much higher mortgage rates and the worsening economic outlook,' said MBA forecaster Joel Kan