The unusually wide 'spread' between 10-year Treasury yields and 30-year fixed-rate mortgages means mortgage rates could have more room to come down
Futures markets are taking the Fed chair at his word that policymakers may have to hike rates faster and take them higher to combat inflation
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
Mortgage rates have been inching up from 2023 lows following a strong jobs report and January's Consumer Price Index readout, which shows only a slight cooling in inflation
Strong job numbers spark fears that the Fed will need to stick to its guns and continue to raise rates and keep them elevated for some time to fight inflation
Fed Chair Jerome Powell is telegraphing one more small adjustment in March, but some bond market investors think rate hike campaign may now be over
Purchase loan requests rise 3% week over week as mortgage rates ease but remain down 39% from the same time a year ago
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
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
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
Without adjustment for seasonal factors, demand for both purchase loans and refinancing remains at their lowest levels since 2000, according to MBA lender survey
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