Purchase Mortgage Activity Drops
Despite some misreports of a “market rebound” last week, purchase mortgage application volume in the U.S. dropped another 6 percent in the absolute, representing a 10 percent drop on a…
New Home Sales Activity Gains, Average Loan Size Slips
The mortgage application volume for new home purchases in the U.S. was up 19 percent on a year-over-year basis in January and the seasonally adjusted pace of sales, which had…
Don’t Confuse Seasonality with a Rebound or “Pivot”
At a time of the year when industry folks and the media have been known to conflate basic seasonal trends with a market rebound or “pivot!,” purchase mortgage application volume…
Mortgage Availability Inches Up From an 11-Year Low
Having dropped back down to its lowest level in over a decade at the end of last year, mortgage credit availability inched up 0.7 percent last month, with a 1.9…
Purchase Mortgage Activity Down Over 50 Percent from 2022
Despite the average 30-year mortgage rate having dropped a full percentage point over the past quarter and now “stabilizing” above 6 percent, purchase mortgage application volume in the U.S. remains…
New Home Sales Activity Ticks Up but Pace of Sales Drops
As we outlined last month, while application volume for new home loan purchases in the U.S. was up on a year over-year basis in November, the pace of sales had…
Mortgage Credit Availability Drops, Lending Standards Tighten
Despite a drop in the benchmark 30-year mortgage rate to only 6.61 percent, the decline of which has since leveled off, mortgage credit availability dropped 4.6 percent in December, with…
Purchase Mortgage Activity Keeps Ticking Down
Despite a drop in mortgage rates to a six-month low, purchase mortgage application volume in the U.S. ticked down 5 percent on a seasonally adjusted basis over the past two…
Purchase Mortgage Activity Continues to Drop
Despite some misleading headlines making the rounds last week, an uptick in mortgage loan application volume was actually being driven by a jump in refinancing activity, not purchasing, as we…
Refinancing Activity Drives Mortgage Application Volume Up, Not Purchases
While the Mortgage Bankers Association’s index for mortgage loan application volume increased 6 percent last week, said increase was actually driven by refinancing activity, the sub-index for which jumped 19…