Mortgage applications soared last week as weakening rates encouraged an explosion of refinances, plus slightly better purchase activity. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 16.8%, adding to a 6.9% increase the week prior. Adjusted purchase applications rose…
Mortgage applications reversed course last week, turning down after getting a refi-inspired boost the week prior. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — fell by 2.2%, cutting into its 3.9% increase. Adjusted purchase applications decreased by 4%, while the unadjusted…
Homebuyer interest in new homes slowed in June, coinciding with a decline in builder activity. The Mortgage Bankers Association’s Builder Application Survey unadjusted data for June 2024 found that mortgage applications for new home purchases rose 0.7% YOY but slipped by 16% from the month prior. MBA VP and Deputy Chief Economist Joel Kan noted that…
Mortgage applications saw an upswing last week driven by a refi boost as rates fell to a multi-month low. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 3.9%. Adjusted purchase applications decreased by 3%, while the unadjusted index was…
Mortgage applications fell last week as rates hovered around 7%. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — slipped by 0.2%. The results include an adjustment for the Fourth of July. Adjusted purchase applications increased by 1%, while the unadjusted index…
Mortgage applications inched up last week, moving just slightly despite rates falling to a three-month low. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — increased by 0.8%, adding to last week’s 0.9% bump. The results include an adjustment for the Juneteenth…
Mortgage applications slipped after a weeks-long upward rally as rates ticked up. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — fell by 5.7%, reversing last week’s gains. Adjusted purchase applications declined by 1%, while the unadjusted index was down 3% and…
Mortgage applications rose slightly last week, buoyed by a refi turnaround even as purchase demand faltered. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — rose by 0.5%, adding to last week’s 2.6% increase. Adjusted purchase applications declined, however, by 2%, while…
Americans watching cable news might have been cheered when they saw the latest jobs report: the United States added 303,000 new nonfarm jobs in March and unemployment fell to 3.8%. Both numbers exceeded expectations. But viewers who are also shopping for a mortgage may have had a different reaction. Economics and housing experts say less…
Mortgage applications are yo-yoing as affordability-minded buyers respond to fluctuating rates. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — decreased by 1.6%, following the week prior’s 7.1% bump. Adjusted purchase applications slipped by 1%, while the unadjusted index was down 1%…
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