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
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
Purchase applications have declined in 8 of the last 9 weeks, according to a weekly survey by the Mortgage Bankers Association released on Wednesday
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
Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight
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