The pace of mortgage applications has fallen to a multi-decade low amid high housing interest rates, according to the latest data from the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage loan application volume, declined by 14.2 percent on a seasonally adjusted basis for the week ended Sept. 30, 2022, compared…
Mortgage Application Pace Plunges to 25-Year Low as Housing Recession Deepens
October 5, 2022
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Why a Cash-Out Refinance Can Still Be a Good Idea, Even as Rates Rise
June 19, 2022
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By Zach Wichter From Bankrate.com Economic uncertainty abounds right now as inflation surges and the interest rates on all kinds of financial products rise. Even so, homeowners may find that tapping their home equity through a cash-out refinance is a financially sound decision, despite the fact that doing so is costlier than it would have…
When Does It Make Sense to Refinance Your Mortgage
If you’re a homeowner with an existing mortgage, you might think you’re all set. But just because you have a mortgage locked in doesn’t necessarily mean it’s the best mortgage for your situation. Refinancing is a cost-effective and logical option in many cases, particularly in a market with low interest rates. What Does it Mean…
12 Expert Tips to Pay Down Your Mortgage in 10 Years or Less
Purchasing a home is a dream for pretty much everyone. But, taking on that massive debt can prevent you from retiring earlier, sending the kids to college, or taking that dream vacation. Like any other debt, if you’re able to get rid of your mortgage as soon as possible, the better off you’ll be down…
Mortgage Refinance Applications Dip 62 Percent as Rates Rise at Faster-Than-Expected Pace
Mortgage refinance demand dropped for the week ending April 8 according to the Mortgage Bankers Association (MBA), while it also expects refinance originations to drop by double digits in 2022. MBA’s Refinance Index slipped 62 percent for the week when compared to the same week a year back. The index was lower by 5 percent…
Mortgage Refinance Demand Falls After Rates Rose Higher
March 30, 2022
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U.S. mortgage applications have decreased 6.8 percent from the week before, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 25. The drop in applications comes as mortgage rates rose for another week, hitting current borrowers who were applying to refinance, but demand from homebuyers still…
Rise in Interest Rates Is Causing Mortgage Refinance Demand to Tumble
Mortgage interest rates shot up dramatically this week to their highest rates in three years, taking its toll on loan demand, especially regarding refinances, said the Mortgage Bankers Association’s seasonally adjusted index report on March 23. The rapid increase is threatening to cool down the red-hot housing market. Refinance applications for home loans fell 14…
Strong Government Refinancing Results in Mortgage Applications Increasing: MBA
Mortgage applications increased two percent compared to a week earlier driven mainly by an increase in government refinancing, according to data collected from a Mortgage Bankers Association’s (MBA) survey collected for the week ending Dec. 3. The surge was primarily due to the refinance index increasing nine percent from the prior week on a seasonally…
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