With a Fed meeting looming next week, rates on 30-year fixed-rate mortgages have surged well past the 7% threshold, a Mortgage Bankers Association survey released Wednesday shows
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%
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
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
Purchase applications have declined in 8 of the last 9 weeks, according to a weekly survey by the Mortgage Bankers Association released on Wednesday
High mortgage rates, challenging affordability and a gloomier economic outlook are keeping buyers on the sidelines, Mortgage Bankers Association forecaster Joel Kan said
Purchase loan activity has dropped in 5 of the last 6 weeks as some buyers remain wary, according to the Mortgage Bankers Association
The largest weekly decline in mortgage rates since 2020 sparks increase in home loan applications after 4 weeks of declining demand, MBA's survey 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
Fears of impending recession and a spate of prominent layoff announcements put only a moderate damper on real estate hiring last month, according to the US Bureau of Labor Statistics
Although fears of a recession are bringing mortgage rates down, would-be homebuyers aren't rushing to apply for loans, according to a weekly survey of lenders
Purchase mortgage applications are still down 10% from a year ago, with mortgage rates nearly doubling in the last 12 months, according to a survey by the Mortgage Bankers Association
Homebuyer demand for purchase loans picked up before a bond market sell-off sent mortgage rates soaring past 6%, according to the MBA's Weekly Mortgage Applications Survey