The Market Composite Index dropped by 6.2 percent on a seasonally adjusted basis and by seven percent on an unadjusted basis. The seasonally adjusted Purchase Index took a four percent spill from one week earlier and the unadjusted Purchase Index decreased by five percent—although the latter was eight percent higher than the same week one year ago. The Refinance Index was down by nine percent from the previous week and the refinance share of mortgage activity decreased to 45.6 percent of total applications from 46.6 percent the previous week.
Among the federal programs, the FHA share of total applications increased to 10.3 percent from 10.1 percent the week prior, while the VA share of total applications decreased to 10.3 percent from 10.4 percent the week prior and the USDA share of total applications remained unchanged at 0.7 percent.
Only the fourth time in eight years IMBs show net production losses.
Independent mortgage banks and mortgage subsidiaries of chartered banks on average showed a net loss of $82 for every loan originated in the second quarter of 2022. That’s a drop of over $300.
That number is a large reason why only 57% of companies were profitable in the Mo...
Redfin says a number of metrics that reflect a cooling market are now leveling off.
The housing-market slowdown is starting to slow down, according to a new report from Redfin.
The technology-powered real estate brokerage said fewer homeowners are listing their homes due to ebbing homebuyer demand, and that’s hampering the recent growth in housing supply ...