Mortgage rates have reached their lowest point since mid-March but economists worry inflation and economic uncertainty caused by tensions in the Middle East will result in temporary decreases versus more sustained stability. The average mortgage rate ticked down 7 basis points to 6.23%, down from 6.30% last week, according to the latest Primary Mortgage Market…
MAVERIX has entered into a strategic partnership with Fogline Advisors to expand advisory services across brokerage, proptech and mortgage sectors. According to a release, the collaboration is designed to provide integrated M&A and strategic advisory capabilities as those segments of the housing industry continue to converge amid consolidation pressures, margin compression and increased competition for…
Despite ongoing geopolitical uncertainty, recent mortgage rate declines have boosted mortgage application activity for a second week in a row. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases and refinances—increased 7.9% on a seasonally adjusted basis from last week’s 1.8% increase,…
Indexes tracking home-purchase and refinance application activity both saw increases this week, supported by a 9-basis-point decrease in mortgage rates last week that followed easing of tensions in the Middle East. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases and refinances—increased…
‘In a holding pattern’ is how economists are describing the spring market moving into April, with more policy stability and conflict resolution needed to move buyers and sellers back from the sidelines. The average mortgage rate ticked down 9 basis points to 6.37% this week, down from 6.46% last week after several weeks of increases,…
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Data tracking home purchase and refinance applications showed decreases in both indexes again this week in the wake of ongoing economic uncertainty and steadily rising mortgage rates. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases and refinances—decreased 0.8% on a seasonally…
The average 30-year fixed mortgage rate increased for the fifth consecutive week, rising to 6.46% as the ongoing war in Iran continues to roil financial markets, economists said. The average mortgage rate ticked up 8 basis points to 6.46% this week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday,…
With mortgage rates climbing to their highest point since August recently, the role of steadily increasing home purchase application and refinance activity has reversed, with both indexes by the Mortgage Bankers Association (MBA) showing sharp decreases this week. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan…
While mortgage rates hit a high for the year so far, reflecting escalating geopolitical tensions in the Middle East, analysts point to average rates still remaining below year-ago levels and offering some improvement to buyers purchasing power. The average mortgage rate ticked up 11 basis points to 6.22% this week, up from 6.11% last week,…
New data from the Mortgage Bankers Association shows applications for both home purchases and refinances fell significantly this week following increased mortgage rates and other market volatility in the wake of the conflict in the Middle East, economists said. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage…
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