Requests for purchase loans were down last week by 31% from a year ago as rates rose to a 2023 high and homes remained scarce, according to the MBA's Weekly Mortgage Applications Survey
Thirty-year, fixed-rate loans hit 6.982% on Oct. 13, a new 2022 high, according to an Optimal Blue Mortgage Market index. According to an index by Mortgage News Daily, rates were at 7.15%
Rates for borrowers with credit scores below 680 making down payments of less than 20 percent climbed past 7% on Monday, according to Optimal Blue
No sign of a rebound in purchase applications, but August data showing a strong job market 'should support housing demand,' MBA economist says
Applications for government-backed purchase mortgages were up 4% week over week, accounting for nearly 1 in 4 loan requests from homebuyers, according to the Mortgage Bankers Association
First-time homebuyers who rely on government mortgage programs are 'increasingly challenged' by rapid home price increases and higher mortgage rates
Demand for purchase loans up 16 percent from a year ago
Purchase loan demand up 26 percent from year ago
Low mortgage rates could help keep recovery on track in 2013
Purchase loan demand sags, but still up 7 percent from year ago
Rates on 15-year loans lowest since 1991
Debate over QE3 intensifies as Fed meeting looms
Eight out of 10 loan applications are for refis
Cost of borrowing still well below historic norms
Rates at or near record lows for fourth week in a row