Requests for purchase loans picked up last week during a short-lived drop in rates, MBA survey shows, helped by gradually improving inventory conditions and economic outlook
In less than a week, a series of reports has changed the outlook for the timing and magnitude of future Fed rate cuts, sending mortgage rates into a 5-day tailspin back below 7%
United States homebuyers took out 90,772 mortgages for second homes in 2023 — 40% fewer than they did in 2022
Rates for conforming loans pushed through 7% last week and continue to rise, as latest inflation data and remarks by Fed Chair Jerome Powell dim prospects that Fed will ease in June
After 2 consecutive weeks of rising demand, applications for purchase mortgages dropped last week by a seasonally adjusted 1% from the week before, and by 14% from a year ago: MBA survey
Applications for purchase loans have dropped 4 weeks in a row, plummeting by a seasonally adjusted 10% last week, according to a survey of lenders by the Mortgage Bankers Association
Firming up of mortgage rates finally catches up with homebuyer demand, with applications for purchase loans falling by a seasonally adjusted 11% last week, MBA survey shows
AI document automation platform signs 100 new customers in 2023 and now supports more than 1,150 types of documents to serve a growing number of use cases, including mortgage
Demand for purchase mortgages has picked up in 5 out of the past 6 weeks, and applications to refinance have roared back, jumping 27% from a year ago, MBA survey shows
Demand for purchase loans picks up for 4th consecutive week, and bond market investors are pushing rates lower on hopes for Fed easing as inflation subsides
Purchase mortgage applications trended up last week for the first time in a month as mortgage rates retreated from 2023 highs, according to the MBA's weekly survey of lenders
Mortgage rates continued their relentless rise this week to levels not seen in 2 decades, fueled by a bear market for bonds that fund government borrowing and most home loans
Mortgage applications were more likely to be denied by lenders or withdrawn by homebuyers in census tracts where a higher share of buildings was at risk of future flooding
Purchase loan applications fell 29% from the same period last year, the result of rising rates that are double their levels from 2021, according to the Mortgage Bankers Association’s weekly index
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