Tag Archives: Purchase Applications

After a five-week string of declining rates, mortgage rates rose modestly for the second consecutive week, on the eve of the GSE’s enacting changes to loan-level price adjustments geared toward tackling housing affordability challenges nationwide.

Continued low mortgage rates have not equated into a strong start to the spring homebuying season, as the MBA reports a decline in overall application volume after four consecutive weeks of increases.

Inflated mortgage rates and home prices pushed monthly housing payments to a record high of nearly $2,600, according to a new report from Redfin.

A four-month high in mortgage rates has led to a steady decline in overall mortgage application volume, as the MBA reports purchase applications falling to levels last seen in 1995.

As mortgage rates climb toward 7%, the decline in new listings of homes for sale has slowed since December. A new Redfin report examines why many homebuyers continue to pull back from their home search.

According to new data from Optimal Blue, rate lock data showed moderate signs of an early-January rebound in purchase locks, while refis remain constrained despite a full percentage point rate decline since its October 2022 peak.

Elevated mortgage rates continue to accentuate affordability concerns, keeping many prospective buyers out of the market. Meanwhile, the MBA reports application volume slid to close out 2022.

The MBA reports an uptick in overall mortgage application volume week-over-week, led by a 4% rise in home purchase applications, despite an 88% year-over-year drop-off in refinance activity.

Mortgage rates continue to trend upward, with more buyers retreating from the marketplace, as the MBA reported a 14.2% weekly decline in overall app volume.

Following a near-month-long 72-basis point rise, fixed-rate mortgages turned downward this week, signaling a potential reset in the housing market.