U.S. mortgage rates declined for a second straight week, hitting a two-month low while mortgage applications increased 2.2 percent for the week ending Nov. 18 from a week earlier, according to an industry association, reflecting a slight improvement in the constrained housing market. “The 30-year fixed-rate mortgage fell for the second week in a row…
Mortgage Rates Drop to 2-Month Low Sending Demand Up
November 23, 2022
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Business & Marketseconomymortgage applicationsmortgage bankers associationmortgage ratesreal estaterecessionU.S. home pricesUSUS Real Estate
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Mortgage Demand Falls to 25-Year Low as Interest Rates Top 7 Percent: Mortgage Bankers Association
October 26, 2022
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Business & Marketseconomyhousing marketinflationMarket Composite IndexMarketsmortgage bankers associationmortgage demandmortgage ratesreal estateUSUS Real Estate
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Mortgage applications have fallen to their lowest level in 25 years as interest rates hit record highs, according to the Mortgage Bankers Association (MBA). The MBA’s Market Composite Index, which measures mortgage application loan volume, fell 1.7 percent on a seasonally adjusted basis for the week ending Oct. 21 compared to a week earlier, according…
Lumber Prices Crash Amid Elevated Home Prices
Lumber prices have drastically fallen this year as the industry grapples with the consequences of high home prices. Lumber is trading at $608.6 per thousand board feet as of June 1, which is over 54 percent below the Jan. 13 peak of $1,329. Kevin Mason, managing director of ERA Forest Products Research, believes that lumber…
Adjustable Rate Mortgage Demand Rises as Home Buyers Search for Cheaper Loans
May 11, 2022
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adjustable-rate mortgagesBusiness & Economyeconomymortgage applicationmortgage bankers associationmortgage interest ratesreal estateUSUS Real Estate
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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…
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 Decline as Interest Rates Rise
March 16, 2022
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Business & EconomyeconomyinflationMarket Composite IndexMarketsmortgage applicationmortgage bankers associationU.S. home pricesUSUS News
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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…
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