Tagged: Mortgage Bankers Association (MBA)

Refinance applications still 159% higher on an annual basis, reflecting last year's record lows

After weeks of increases, applications decreased 1.3% from a week earlier.

The SVP, Chief Financial Officer and Diversity and Inclusion Officer retired after 10 years at the association.

Median purchase payment fell 5.2% YOY

Refinance activity increased to 55.7% of total applications from 51.2% the previous week

Roughly 40% of new builds are going to first-time homebuyers, but larger firms have more success reaching this group of buyers.

Senate Amendment 2358, banning 'abusive' trigger leads, was added to the Senate's Fiscal Year 2025 NDAA

With single-family starts and permits rising in August, Fed rate cuts ease construction costs for builders, though competition from resale inventory also stands to increase

Refinance applications more than double year-over-year

Applications remained unchanged from July, but estimated new home sales increased almost 15% over the month, said the MBA.