Mortgage Applications Fall For 1st Time In 2023
After rising for 3 weeks in a row, the MBA's Market Composite Index fell 9% on a seasonally adjusted basis.
After rising for 3 weeks in a row, the MBA's Market Composite Index fell 9% on a seasonally adjusted basis.
The median payment fell to $1,920 in December from $1,977 in November.
Says offering allows customers to go from application to commitment letter within 24 hours .
MBA economist says homebuying activity remains 'tepid.'
Both purchase and refi applications spike as mortgage rates fell in second week of 2023.
After falling 13% at years end, applications rise 1.2% in first week of 2023.
MBA’s survey for the week ending Dec. 30 found applications, seasonally adjusted, fell 13.2% from two weeks earlier.
The 0.9% overall increase was led by refinancing mortgages as mortgage rates fell.