New Home Sales Activity Ticks Up But Pace Slips, Loan Size Too
Up 19 percent on a year-over-year basis in January, mortgage application volume for new home purchases in the U.S. only ticked up a (1) percent from January to February. And…
Purchase Mortgage Activity Ticks Up, Still Down YOY
Purchase mortgage application volume in the U.S., which is a leading indicator for sales, ticked up 6 percent over the past week in the absolute and 5 percent on a…
Purchase Mortgage Activity Continues to Drop
Once again, despite some misreports of a “market rebound” earlier this month, purchase mortgage application volume in the U.S., which is a leading indicator for sales, ticked down another (1)…
Benchmark Mortgage Rate Nears 7 Percent
Following a key trend that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30 year mortgage ticked up another 13 basis points (0.13 percentage points)…
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…
Benchmark Mortgage Rate Ticks Up to 6.77 Percent
As we outlined last week, prior to a market shock that appears to have caught some by surprise, the expected value of the Fed’s interest rate cuts this year was…
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…