Markets pricing in only 1.7 percent chance of a 50-basis Fed rate hike on March 16, down from 41.4 percent before Russian invasion
As rates keep rising, requests to refinance accounted for just half of mortgage applications, down from 68% a year ago
As rates breach 4% for first time since 2019, requests to refinance are down more than 50% from a year ago
With inventory remaining tight for entry-level buyers, the average loan request hit another record high of $446,000
Requests to refinance existing mortgages was up 18% week over week but down 50% from a year ago, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey
Rates on 30-year fixed-rate loans rise for the fifth consecutive week, to the highest level since March 2020
Average purchase loan request hits record $418,500, and falling demand for FHA and VA mortgages suggests first-time buyers are being priced out
Demand for purchase loans fell to a seasonally adjusted 4% from 2 weeks ago, and 12% from a year ago, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey
Applications to refinance fell 41% from a year ago as rates increased for the third week in a row, according to The Mortgage Bankers Association’s Weekly Mortgage Applications Survey
Purchase loans were up 5% last week and applications by homeowners to refinance existing mortgages were up 0.4% week over week, according to the Mortgage Bankers Association
Requests to refinance accounted for almost two-thirds of all mortgage applications during the week ending Nov. 5
Demand for purchase loans and refinancings ebbed during last week of October
With Fed tapering coming as soon as November, market forces are already pushing mortgage rates higher
Purchase loan applications rose 2% week over week, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey, released Wednesday
A new report from CoreLogic finds that the typical home in Wyoming is nearly 3 times as likely to go up in flames as one in California