Requests to refinance accounted for 31% of all loan applications last week, well below the past decade’s average of 58%, according to a weekly MBA lender survey
Mortgage rates remain well below 2022 highs as the spring homebuying season approaches, according to a weekly lender survey by the Mortgage Bankers Association
It's a slow time of year for homebuying, so it's not surprising to Mortgage Bankers Association Chief Economist Mike Fratantoni that purchase applications didn't jump last week
Demand for purchase loans has increased in 5 out of the past 6 weeks, according to a weekly survey of lenders by the Mortgage Bankers Association released Wednesday
Economists forecast mortgage rates will continue to fall as Federal Reserve minutes suggest policymakers are preparing to wind down an aggressive campaign to fight inflation
While purchase loan applications were up 4% week over week, there's still 'very little refinance incentive with rates so much higher than last year,' MBA forecaster says
Purchase loan applications rose 1% last week despite latest Fed rate hike, but homebuyer demand for mortgages remained close to 2015 lows, according to the Mortgage Bankers Association
Demand for purchase loans fell 1% last week compared to the week before, and was down 41% from a year ago, according to a new Mortgage Bankers Association survey released Wednesday
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%
A rate index published by Mortgage News Daily shows rates on 30-year fixed mortgages averaging 7.14 percent on Tuesday
After hitting 2022 highs last week, a weak hiring report released Tuesday by the Bureau of Labor Statistics has been helping to bring mortgage rates back down
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
Investors who fund mortgages are demanding unusually high premiums in comparison to government bonds, out of fears the loans they make now could quickly be refinanced if rates drop
Rising demand for purchase loans and refinancing as rates climb to new highs underscores volatility, with Fed expected to continue rate hikes, according to the MBA's latest survey
No sign of a rebound in purchase applications, but August data showing a strong job market 'should support housing demand,' MBA economist says