Home purchase application activity fluctuated over the Thanksgiving holiday period, both increasing and decreasing over the past few weeks. This week mortgage activity saw a slight decline. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of mortgage loan activity volume—decreased 1.4% from one week earlier on a seasonally adjusted…
Mortgage originations remain down quarterly due to elevated mortgage rates; however, annual growth has been rising due to bettering signs, according to the latest data from ATTOM. ATTOM’s Mortgage Origination Report for Q3 found that while mortgage originations were down 1.6% quarterly, originations have grown 1.9% year-over-year. The data found that 1.77 million mortgages secured…
After a period of relatively steady activity, home purchase applications fell back this week as mortgage rates reached recent multi-week highs. The Mortgage Bankers Association (MBA) reports that the market composite index—the measure of mortgage loan activity volume—decreased 5.2% from one week earlier on a seasonally adjusted basis for the week ending Nov. 14, following…
As mortgage rates saw little shifts during this past week, President Donald Trump and members of his administration have floated an idea to galvanize new homebuyers: the 50-year mortgage. In a post on Truth Social, Trump shared a photo comparing the proposal to how President Franklin D. Roosevelt introduced the federally backed 30-year mortgage during…
Mortgage rates saw little movement this week, reflecting a overall market pause related to the government shutdown these past weeks and related uncertainty, economists say. According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the average 30-year fixed-rate mortgage (FRM) moved up 2 basis points this week to 6.24% from…
Applications for home purchases hit their fastest pace since September this week, despite a recent uptick in mortgage rates. Borrowers continue to shop for homes especially in markets where inventory has increased and price growth slowed, mortgage data watchers said. The Mortgage Bankers Association (MBA) reports that the market composite index—the measure of mortgage loan…
Following Fed Chair Jerome Powell’s comments last week that a December rate cut is not a guarantee, economists said mortgage rates moving higher was an expected market response but also one that favors an improving climate for home affordability. According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the average…
Mortgage application activity was mixed this week with overall purchase applications declining from last week, but a slight uptick in FHA loan applications and refinance applications still up significantly over last year indicates borrowers continue to look for ways to make homeownership more affordable. The Mortgage Bankers Association (MBA) reports that the market composite index—the…
Knock—the real estate technology company which helps lenders and agents make it easier for homeowners to buy before they sell—today announced the launch of Knock Bridge Loan Plus. This new financing option now pays off the homeowner’s existing mortgage upfront, eliminating double payments. Knock stated that by paying off homeowners’ current mortgage and releasing the…
Mortgage rate watchers point out that so far this year rates have fallen 87 basis points from their mid-January peak, a welcome event for homebuyers that have been waiting on the sidelines and homeowners who have been considering refinancing. According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the average…
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