Purchase Mortgage Activity in the U.S. Down over 10 Percent
Having ticked up 2 percent last week, mortgage loan application volume across the U.S. has since dropped 11 percent on both an absolute and seasonally adjusted basis, according to data…
Mortgage Rates Inch Up, 30-Year Rate Hits a 670-Week High
As we noted last week, “the yield on the 10-year treasury inched up around 3 basis points since the Fed’s announcement, indicating the near-certain hike was already priced-in and should…
Mortgage Applications Tick Up, ARM Share Nearly Triples
Mortgage loan application volume across the U.S. ticked up 2.0 percent over the past week on a seasonally adjusted basis and 3.0 percent in the absolute, according to data from…
Pace of Home Sales in San Francisco Drops
Having slipped last month, representing an atypical decline in activity in the midst of the traditional spring buying/selling season and despite posturing that a jump in mortgage rates would spur…
Benchmark Mortgage Rate Climbs, Nearing a 13-Year High
Measured prior to the Fed’s rate hike yesterday, the average rate for a benchmark 30-year mortgage had already jumped another 17 basis points to 5.27 percent, which is 231 basis…
All Eyes on The Fed and Projected Rate Hike(s)
While the Fed has only hiked the target federal funds rate by 25 basis points (0.25 percentage points) from the near zero rate which had been in place since 2018,…
Mortgage Applications Drop as Homebuyers Pull Back Even More
Mortgage loan application volumes in the U.S. dropped another 8.3 percent over the past week on a seasonally adjusted basis and 7 percent in the absolute, with a 9 percent…
Pace of New Home Sales Drops, Inventory Climbs
Having ticked down an upwardly revised 1.2 percent in February, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 8.6 percent in March to an annualized…
Benchmark Mortgage Rate Just Hit a 12-Year High
Having hit 5 percent for the first time in over a decade last week, the average rate for a benchmark 30-year mortgage has since ticked up another 11 basis points…
Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade
The average rate for a benchmark 30-year mortgage jumped another 28 basis points (0.28 percentage points) over the past week to 5.00 percent, which is 196 basis points and over…