Tagged: Mortgage Bankers Association (MBA)

Refinance activity declines, purchase volume slows amidst inventory constraints.

Total loans in forbearance decreased just one basis point.

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 MBA says fourth quarter delinquencies climb.

Trade associations claim trigger leads are dangerous to consumers.

Consumer sentiment about actually buying a home, however, is pessimistic.

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

The U.S. Adds 353,000 jobs, defying slowdown predictions, and sparks debate on Federal Reserve's next move