Mortgage Bankers Association (MBA)

Early-stage delinquencies rise according to MBA's report, while foreclosure starts stay low, suggesting resilience in the housing market despite concerns over increasing unemployment rates.

Purchase applications gain, but refinance remains subdued.

Purchase applications hit their lowest since 1995, while ARMs surge by almost 10%, reflecting a market adjusting to near 23-year high interest rates.

Recent data unveils a dip in median mortgage payments, but annual figures showcase a significant rise.

30-year fixed mortgage rate reaches 7.9% – its highest since 2000 – stalling potential homebuyers and suppressing refinance activities.

Despite a 12% monthly drop, year-on-year figures show a 14.9% increase; First-time homebuyers drive surge in FHA applications.