Tagged: Mortgage Applications

Refinance activity declines, purchase volume slows amidst inventory constraints.

As rates moved up past 7%, mortgage applications dropped over 10%.

The Mortgage Bankers Association reports a 19.1% year-over-year increase in new home purchase applications, with a seasonally adjusted annual rate reaching 700,000 units, the highest since October 2023.

A 2.3% fall in mortgage applications signals ongoing affordability challenges, with rising interest rates dampening both refinance and purchase demand.

The Refinance Index experienced a notable uptick of 12% from the preceding week.

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

Homebuyers drive uptick as refinancing activity remains low.

Demand for new homes remains strong despite seasonal dip in December.

As interest rates dip, both refinance and purchase applications experience notable upticks.

Homebuyers and homeowners rush to secure mortgages as rates rise, with a 9.9% increase in applications despite the holiday season.