Despite near annual highs of the 30-year average mortgage rate, home-purchase application activity had been holding steady or even modestly increasing in recent weeks, attributed to the rise in home inventory. That trajectory flipped this week with a dip in mortgage applications as rates hit another record high since last August. The latest Market Composite…
Economists touted regional improvements to housing inventory for the increase in home-purchase application activity this week but cautioned the uptick will likely be short-lived with oil prices rising as a result of the ongoing conflict in the Middle East. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity…
Mixed signals continue coming from the U.S. housing market, as the Mortgage Bankers Association (MBA) reported this week that home-purchase applications decreased for a second week while refinances increased, even as rates hit their highest point since August of last year. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume…
The Mortgage Bankers Association is attributing an increase in home-purchase applications this week to mortgage rates edging down slightly following a decline in oil prices and easing tensions in the Middle East. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows mortgage application activity increasing…
Mortgage rates remain elevated but application volume remains higher than last year at this time, according to the latest data from the Mortgage Bankers Association (MBA). The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows little change in application activity this week, increasing 1.0% on…
The Mortgage Bankers Association is pointing to a combination of economic and geopolitical forces ultimately netting a decrease in mortgage application activity this week. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows application activity decreasing 3.8% on a seasonally adjusted basis from a jump…
Despite average mortgage rates increasing this past week, potential homebuyers were active in the market, a sign that they may be getting used to the current economic environment, according to the Mortgage Bankers Association (MBA). According to the latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and…
Mortgage applications declined for a second week in a row as economists point to economic uncertainty and geopolitical tensions continuing to weigh on activity and drive mortgage rates up. 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 4.4% on…
Mortgage applications decreased this week but economists say homebuying sentiment has improved over this time last year thanks to an increase in homes on the market. 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 1.6% on a seasonally adjusted…
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,…
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