Mortgage applications rose for yet another week, though the increase was mild compared to previous weeks’ jumps.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – increased by a modest 0.3%.
Adjusted purchase applications rose by 5%, while the unadjusted index slipped 31% from the week before and was 19% lower YOY. An adjustment for Thanksgiving is included in the data.
Mortgage rates slipped to 7.37%, the fourth decline in five weeks and the lowest level in 10 weeks.
“There was a slight increase in applications overall, driven by a five percent increase in purchase applications, but refinance applications decreased over the week,” said Joel Kan, MBA’s Vice…
Mortgage applications jumped last week as rates retreated, sending buyers running to complete deals.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – increased by 2.8%.
Adjusted purchase applications rose by 3%, while the unadjusted index slipped 0.3% from the week before and was 12% lower YOY.
Rates held steady at 7.61% after seeing their largest single-week drop in more than a year the week prior, down 30 bps in three weeks.
But while buyers mid-sale benefitted from the cooldown, rates have not dropped enough to entice many off the sidelines.
“Both purchase and refinance applications increased to the highest weekly pace in five weeks but remain at…
Mortgage applications slipped again last week, though ARM applications soared in response to ongoing affordability pressures.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 2.1%, slightly up from the week prior’s 1% dip.
Adjusted purchase applications slipped by 1%, while the unadjusted index fell by 2% from the week before and was 22% lower YOY.
Applications decreased despite the 30-year fixed mortgage cooling slightly to 7.86%, breaking a weeks-long streak of increases. Rates remain close to 23-year highs, however, and all rates are approximately 30 bps higher than a month ago.
“The impact of higher rates continued to be felt across both purchase and refinance…
Mortgage applications slipped again last week as treasury yields swelled to new highs.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 1%, a more moderate decline than the week prior’s 6.9% dip.
Adjusted purchase applications slipped by 2%, while the unadjusted index fell by 2% from the week before and was 22% lower YOY.
Another spike in rates drove the decline. The 30-year fixed mortgage rate rose to 7.90%, the highest level since 2000 and a 20 bps jump from last week. Rates have risen nearly 70 bps in the last seven weeks.
“Ten-year Treasury yields climbed higher last week, as global investors remained concerned…
Mortgage applications tanked last week, hitting their lowest level since 1995 and wiping out a brief surge the week prior.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 6.9%.
Adjusted purchase applications slipped by 6%, while the unadjusted index fell by 5% from the week before and was 21% lower YOY.
Another week of rate increases drove the decline. The 30-year fixed mortgage rate rose for a sixth straight week to 7.70%, the highest level since 2000.
“Both purchase and refinance applications declined, driven by larger drops for conventional applications. Purchase applications were 21% lower than the same week last year, as homebuying activity continues…
Mortgage applications rose slightly last week, driven by an increase in adjustable-rate applications.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – increased by 0.6%.
Mortgage rates shot up for all loan types but adjustable-rate mortgages, leading to a rush on these loans, which boosted overall volume.
ARM applications jumped by 15% in just one week, pushing them to a 9.2% share of all applications, their highest level since November 2022.
Adjusted purchase applications inched up 1%, while the unadjusted index rose by 1% from the week before and was 19% lower YOY.
“The yield curve has become less inverted in recent weeks and ARM pricing has certainly…
Mortgage applications slipped again last week as purchase activity fell to its lowest level since 1995.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – declined by 1.3%, down from the week prior’s 5.4% increase.
Adjusted purchase applications sank by 2%, while the unadjusted index fell by 2% from the week before and was 27% lower YOY.
Declines can be attributed to the average interest rate for a 30-year fixed loan increasing 12 bps to 7.53%, the highest rate since 2000. A recent boost in Treasury yields forced rates higher for the fourth straight week.
The jumbo rate also set another record, jumping 17 bps from 7.34% to…
Mortgage applications fell last week, stepping back after a spike as rates reached 20-year highs.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – declined by 1.3%, down from the week prior’s 5.4% increase.
Adjusted purchase applications sank by 2%, while the unadjusted index fell by 2% from the week before and was 27% lower YOY.
Declines can be attributed to the average interest rate for a 30-year fixed loan increasing 10 bps to 7.41%, the highest rate since December 2000.
Meanwhile, the jumbo rate hit its highest point ever in MBA’s jumbo series data at 7.34%, which dates to 2011.
“Based on the FOMC’s most recent projections,…
Mortgage applications continued to sink last week, driven by continued refinance weakness.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – fell by 0.8%, down slightly compared to the week prior’s 2.9% decrease.
Adjusted purchase applications actually rose by 1%, while the unadjusted index dipped 11% from the week before and was 27% lower YOY.
Refinances drove the decline, dropping 5% and seeing their weakest levels since the beginning of this year. They currently make up 29.1% of total applications. In the past decade, refis averaged 58% of total activity.
The refi downturn led to the seventh dip in applications in eight weeks and their lowest levels since…
Mortgage applications dipped again after a brief increase last week, despite rates cooling.
The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 2.9%, drifting down after the week prior’s 2.3% increase.
Applications are now at their lowest level since December 1996. Adjusted purchase applications fell by 2%, while the unadjusted index dipped 5% from the week before and was 28% lower YOY.
The average interest rate for a 30-year fixed loan fell 10 bps to 7.21%.
“Both purchase and refinance applications fell, with the purchase index hitting a 28-year low, as prospective buyers remain on the sidelines due to low housing inventory and elevated mortgage rates,”…
