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…
With mortgage rates rising due to higher oil prices from geopolitical tensions in the Middle East, mortgage applications saw another fall this week, according to data from the Mortgage Bankers Association. MBA’s Weekly Mortgage Applications Survey found that the Market Composite Index (a measure of mortgage loan application volume) fell 10.5% on a seasonally adjusted…
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…
With the war in Iran causing market volatility this past week including an average mortgage rate increase from below and back up over 6%, home purchase application activity increased for the fourth straight week. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes…
Home loan application activity increased this past week, up slightly from the previous week and following the trend of steady average mortgage rates hovering around 6%, even dipping below for a few days this past week. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume…
Steady rates remaining in the low 6% range continue fueling refinance demand, rising the tide for a small increase this week in overall mortgage applications, as tracked by the Mortgage Bankers Association (MBA). According to the latest Market Composite Index—MBA’s measure of mortgage loan activity volume and includes purchases and refinances—increased 2.8% on a seasonally…
Applications for home loans remained essentially flat this week, declining slightly along with the refinance share of total mortgage activity, while experts note an uptick in government-backed loan applications is an indicator of ongoing affordability challenges. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of mortgage loan activity volume…
Forces other than mortgage rates can impact homebuying activity, and this past week was a good example of that, as experts surmised that a big winter storm hitting a large portion of the country likely prevented people from applying for a mortgage. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the…
The last two weeks of mortgage application metrics have shown sizable increases. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of mortgage loan activity volume—increased 14.1% from one week earlier on a seasonally adjusted basis for the week ending Jan. 16, following last week’s notable 28.5% increase for the…
While mortgage rates dropped to their lowest level since September, applications for home purchases were down nearly 10% from two weeks prior. Despite the mixed trends, mortgage watchers expect rates to remain at current levels with periods of increased refinances. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of…
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