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Articles Recently Tagged: Mortgages

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Purchase Activity for New Homes Drops by Double Digits

Purchase Activity for New Homes Drops by Double Digits

Despite the fact that there are now over 30 percent more new homes on the market across the nation than there were at the same time last year and new home inventory in the U.S. is nearing a 14-year high, mortgage loan application volume to purchase one of the... Read More »

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 from the Mortgage Bankers Association, with a 12 percent drop in applications to purchase a home. As such, purchase... Read More »

Mortgage Rates Inch Up, 30-Year Rate Hits a 670-Week High

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 moderate any significant jumps in mortgage rates over the next week.” The average rate for a... Read More »

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 the Mortgage Bankers Association. That being said, application volumes to refinance were down 72 percent on a year-over-year basis... Read More »

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, the benchmark 30-year mortgage rate has already rocketed by over 200 basis points to a 12-year high, driven by... Read More »

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 drop in applications to refinance and a 7 percent drop in purchase activity, according to data from the Mortgage... Read More »

Mortgage Activity Drops with a Pullback in Demand

Mortgage loan application volumes in the U.S. dropped another 5 percent over the past week on a seasonally adjusted basis and 4 percent in the absolute, with an 8 percent drop in applications to refinance and a 3 percent drop in purchase activity, according to data from the Mortgage... Read More »

Purchase Activity for New Homes Down Despite More Inventory

Purchase Activity for New Homes Down Despite More Inventory

Mortgage loan application volume to purchase a new home in the U.S. ticked up 10 percent from February to March with typical seasonality in play. That being said, application volumes were down 5 percent on a year-over-year basis, reflecting an additional 1.1 point drop in year-over-year activity from February... Read More »

Mortgage Activity in the U.S. Continues to Drop

Mortgage loan application volumes in the U.S. dropped another 6.3 percent over the past week on a seasonally adjusted basis and 6 percent in the absolute, according to data from the Mortgage Bankers Association. On a more granular basis, applications to refinance dropped another 10 percent over the past... Read More »

Benchmark Mortgage Rate Climbs, Nearing an 11-Year High

Benchmark Mortgage Rate Climbs, Nearing an 11-Year High

The average rate for a benchmark 30-year mortgage jumped another 25 basis points (0.25 percentage points) over the past week to 4.67 percent, which is 149 basis points, or nearly 50 percent, higher than at the same time last year and the highest average rate since December of 2018.... Read More »