Mortgage Bankers Association (MBA)

Mortgage Bankers Association reports a 7.2% drop in mortgage applications for the week ending January 26, 2024, primarily due to holiday adjustment.

Economic growth surpasses forecasts, consumer spending remains strong, and housing market outlook brightens.

The MBA's measures of affordability show slight improvement to close out 2023.

Homebuyers drive uptick as refinancing activity remains low.

MBA's latest survey reveals a steady decline in forbearance, with significant drops across loan types as homeowners recover from pandemic-induced financial distress.

Anticipating an increase in mortgage volume driven by improving rates and favorable demographics.