Applications for purchase mortgages were up 2% last week when compared to the week before, but down 1% from a year ago, according to MBA weekly lender survey
October Consumer Price Index report isn't having a big impact on mortgage rates, as investors who fund most home loans doubt the Fed will have much room to bring rates down next year
Appetite for bonds wanes as investors pile into the stock market and assess whether Donald Trump's return to the White House will fuel more government borrowing and reignite inflation
Relief would be good news for would-be homebuyers, although purchase loan applications are still up 10% from a year ago as mortgage rates hit highest levels since July, MBA survey shows
Demand for mortgages is at the lowest level since July, although MBA survey shows purchase loan requests are up slightly from a year ago when rates were headed for post-pandemic highs
Demand for purchase mortgages fell by a seasonally adjusted 7% last week, and requests to refinance were down 26% as mortgage rates continued to climb, MBA survey finds
While many homeowners rushed to refinance, affordability is keeping a damper on sales. Now mortgage rates are climbing again, with investors having already priced in last week's Fed rate cut
Fed easing was already priced into mortgage rates, but there's room for more relief if investors who fund most home loans get less skittish about prepayment risk and quantitative tightening
A surprisingly large increase in core CPI, which excludes volatile food and energy prices, means Fed policymakers are likely to start out with a modest 25 basis-point rate cut next week
Bond market investors who fund most mortgages are already certain the Fed will slash rates this month. The question has become how much will policymakers cut on Sept. 18, Nov. 7 and Dec. 18?
The Fed doesn't have direct control over mortgage rates, but they've come down dramatically as investors are convinced policymakers will cut rates at their 3 remaining 2024 meetings
Falling mortgage rates have more homeowners interested in refinancing, but homebuyers are largely staying on the sidelines. Rates may now be poised for a bigger drop
Investors see a September rate cut as a given, but the latest inflation data suggests recession fears are overblown and that the Fed will start out with a modest, 25-basis point reduction
The big drop in mortgage rates did more to spur refinancing than homebuying, according to a weekly survey of lenders by the Mortgage Bankers Association, and now rates are rising again
Applications for purchase mortgages dropped last week for the 2nd week in a row as rising home prices continue to shut many would-be homebuyers out of the market: MBA survey