Benchmark Mortgage Rate Poised to Inch Down
The average rate for a benchmark 30-year mortgage inched down 6 basis points (0.06 percentage points) over the past week to 6.89 percent, which is 7 basis points lower than…
Benchmark Mortgage Rate Inches Down, Poised to Drop
Measured prior to yesterday’s affirmation by the Fed, the average rate for a benchmark 30-year mortgage inched down 4 basis points (0.04 percentage points) over the past week to 6.95…
Pace of New Home Sales Activity Ticks Up, Loan Size Holds
With inventory levels now 45 percent higher than prior to the pandemic, having hit a 16-year high in March, mortgage application volume for new home purchases in the U.S. ticked…
Purchase Mortgage Activity Ticks Back Down
Purchase mortgage application volume in the U.S. ticked back down 2 over the past week, both in the absolute on a seasonally adjusted basis, and was down 14 percent on…
Mortgage Credit Availability Holding Around a 12-Year Low
Having dropped to its lowest level since 2012 at the end of last year, mortgage credit availability, as indexed by the Mortgage Bankers Association (MBA) has since inched up a…
Benchmark Mortgage Rate Continues to Climb
Having leapt back over 7 percent last week, the average rate for a benchmark 30-year mortgage has since ticked up another 7 basis points (0.07 percentage points) to 7.17 percent,…
Benchmark Mortgage Rate Back Above 7 Percent
The average rate for a benchmark 30 year mortgage jumped 22 basis points (0.22 percentage points) over the past week to 7.10 percent, which is 71 basis points higher than…
Pace of New Home Sales Activity Drops, Average Loan Size Too
While mortgage application volume for new home purchases in the U.S. ticked up a (1) percent from January to February and was nearly 16 percent higher than at the same…
Purchase Mortgage Activity Drops, Rates on the Rise
Having inched up a percent at the end of last month, purchase mortgage application volume in the U.S. dropped 5 percent in the absolute over the past week and 4…
The Fed Affirms, Mortgage Rates Tick Up
As we first calculated a couple weeks ago, “the expected value of the Fed’s rate cuts this year has effectively held firm forecasting a total of three (3) quarter-point rate…