Tag Archives: adjustable-rate mortgage (ARM)

The MBA reports a continued rise in borrower demand, as mortgage application volume rose for the third consecutive week, led by gains in both purchase and refi activity.

As the fixed-rate mortgage fell to a near-five-month low, prospective buyers and those seeking refis brought life into the marketplace, boosting mortgage apps 27.9% over last week’s totals.

The 2023 mortgage market began on a positive note, as Freddie Mac reported a week-over-week slide in mortgage rates leading to an uptick in refinance apps.

The MBA reports that, despite rates still in the 6% range, refinance apps increased 5% over the previous week—but are still 86% lower year-over-year.

The MBA reports that the downturn in mortgage rates has triggered homebuyer interest, as overall app volume has increased for the second consecutive week, and refinance activity rose 6% week-over-week.

With the dip in mortgage rates now surpassing a month, a slight uptick in mortgage apps has led to a recent stabilization in purchase demand.

As the fixed-rate mortgage slips another week, the MBA reports that mortgage apps have risen week-over-week amid news of the Fed’s latest action to correct the nation’s inflationary concerns.

Mortgage rates fell for the fourth consecutive week, and with lingering concerns over less-than-stellar economic growth, overall homebuyer sentiment continues to lag.

After two weeks of increases in overall mortgage application volume, a holiday-shortened week found volume slipping slightly, despite the 30-year fixed mortgage rate dropping to 6.49%.

After a historic decline in mortgage rates last week, a second consecutive week of rate drops has given way to a 2.2% rise in overall mortgage applications.