The MBA's weekly mortgage applications survey shows decline in last week's application volume
Tagged: Mortgage Applications
Rates climbed up for the second consecutive week, posting a 3.3% increase.
Mortgage applications for new home purchases increased 6.2% year-over-year, but only 1% month-over-month.
Applications increased 0.1% from one week earlier, per MBA data.
Elevated mortgage rates weigh down on home buying, according to MBA economists.
Applications decreased 0.7% from one week earlier.
Weekly MBA survey released
Latest data from the Mortgage Bankers Association reveals significant shifts in application volume, driven by declining rates and robust refinance demand, while purchase applications show steady growth despite lingering challenges in the housing market.
Mortgage industry experts remain hopeful that the spring season will bring a boost in purchase volume.
Refinance activity declines, purchase volume slows amidst inventory constraints.