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
After breaching 8% in mid-October, 30-year fixed mortgage rates have plummeted to levels not seen since September as more investors expect Fed policymakers to lower rates in the spring
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
The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac's 2024 loan limits
Mixed payroll and unemployment report sends long-term interest rates surging, but some analysts say the latest numbers reduce the odds of a September Fed rate hike
Even after adjusting for seasonal factors, applications for purchase loans fell for the 5th-straight week as mixed inflation data raised doubts Fed will ease, pushing mortgage rates to new high
Mortgage rates are expected to ease as markets anticipate Federal Reserve policymakers will raise rates just 1 more time this year and then reverse course
Homebuyer demand for purchase loans up 8% last week even after adjusting for the expected seasonal boost from the spring homebuying season
Ongoing banking instability sparked by the failures of Silicon Valley Bank and Signature Bank may affect the availability of jumbo mortgages not eligible for purchase by Fannie Mae, Freddie Mac
Demand for purchase loans picks up for the 4th straight week as mortgage rates continue to retreat from 2023 highs, according to a Mortgage Bankers Association survey on Wednesday
50 basis points 'is still a historically large increase and we still have some ways to go,' Fed Chairman Jerome Powell warns after policymakers wrap up final meeting of the year
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