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
Several Fed policymakers have hinted that they'd be open to a smaller increase in short-term rates in December if there are signs that inflation is starting to ease
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
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
If rates come down in the next 3 years, Rocket Mortgage's program will cover some refinancing costs including first appraisal, credit report, tax certification, and mortgage recording fee
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
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