Mortgage applications have fallen for the fourth straight week amid elevated mortgage rates, according to a recent report by the Mortgage Bankers Association (MBA). The volume of mortgage loan applications fell by 1.4 percent for the week ended June 2, on a seasonally adjusted basis, said an MBA press release on June 7. On an…
‘Constrained’ Home-Purchase Activity: Mortgage Applications Register Fourth Consecutive Weekly Drop
June 8, 2023
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Mortgage Demand Slump Deepens as Rates Climb to Highest Since 2006
October 12, 2022
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Demand for home loans continues to slump as mortgage rates last week rose to their highest level in almost 21 years. Mortgage application volumes for a home purchase loan fell 2 percent for the week ending Oct. 7, 39 percent lower than the same week in 2021, according to a report by the Mortgage Bankers…
Mortgage Applications Drop Amid High Interest Rates and Affordability Concerns
June 1, 2022
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Mortgage applications in the week ending May 27 declined to their lowest level in more than three years, according to the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage loan application volume, fell by 2.3 percent on a seasonally adjusted basis for the May 27 week compared to the week prior,…
Adjustable Rate Mortgage Demand Rises as Home Buyers Search for Cheaper Loans
May 11, 2022
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Demand for adjustable rate mortgages (ARM) is increasing as homebuyers look for lower interest rates on loans and the share of ARM applications among total mortgage inquiries rises to its highest level in more than two decades, according to the Mortgage Bankers Association (MBA). Mortgage applications to buy a home rose by 5 percent for…
US Mortgage Applications Decline as Interest Rates Hit 12-Year High
April 20, 2022
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Mortgage applications in the United States fell for the sixth straight week as mortgage rates rose to a 12-year high, causing home purchases and refinancing applications to fall, according to the latest survey by the Mortgage Bankers Association (MBA) on April 20. The Market Composite Index (MCI), a measure of mortgage loan application volume, showed a 5…
Mortgage Rates Climb to Highest Point in Over a Decade as Home Sales Tumble
April 15, 2022
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Mortgage rates across the United States have been steadily increasing over the past several weeks and are now approaching record high levels. Fixed-rate 30-year mortgage loan rates rose for the sixth consecutive week, rising by 28 basis points from 4.72 to 5 percent for the week ending April 14, Freddie Mac reported. This is the…
Mortgage Applications Drop Following Rates Hike, Homes Begin Selling Cheaper
Applications for mortgages are dropping as mortgage interest rates keep rising while home sellers are lowering their prices as additional supply hits the market, according to multiple reports. The interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) was 4.90 percent in the week ending April 1, up from 4.80 percent…
Mortgage Applications Fell 6.3 Percent Last Week as Interest Rates Rise
Demand for mortgage applications in the United States fell by 6.3 percent on a seasonally adjusted basis last week, according to the Mortgage Bankers Association (MBA) survey for the week ending April 1. The Refinance Index decreased 10 percent from the previous week and was 62 percent lower than the same week one year ago, as…
Mortgage Applications Decline as Interest Rates Rise
March 16, 2022
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Applications for mortgages declined for the week ending March 11 when compared to a week earlier as interest rates rose to multi-year highs, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, which measures the volume of mortgage applications, fell 1.2 percent on a seasonally adjusted basis. On an…
US Mortgage Interest Rates Hit 4 Percent First Time in Over Two Years
February 17, 2022
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Interest rates on 30-year fixed-rate mortgages have exceeded 4 percent for the first time in more than two years as overall mortgage applications declined for the week ending Feb. 11, based on data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. “The 30-year fixed-rate saw the largest single-week increase since March 2020 and…
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