Industry Forecasting News Today

Mortgage rates hit 6.75 percent last week, the highest level since 2006. The mortgage rate spikes have resulted in applications to buy or refinance homes to drop by 14 percent last week.

There were two storms brewing last week and each contributed to driving mortgage applications to generational lows. The Mortgage Bankers Association (MBA) said the continuing rise in interest rates and the devastating hurricane that hit Florida and the Carolina’s contributed to a double-digit decline in its indices that measure mortgage application volume. The Market Composite Index for the week ended September 30 was down 14.2 percent on a seasonally adjusted basis from one week earlier ...

Average mortgage interest rates increased significantly during the week ended September 23. As a result, the Mortgage Bankers Association (MBA) said the volume of mortgage applications gave back most of its prior week gains when it had increased for the first time in six weeks. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.7 percent on a seasonally adjusted basis from one week earlier and was 4 percent lower on an unadjusted basis. The Refinance Index ...

Mortgage rates continue to rise after another interest rate hike, leaving forecasters to rethink their outlook for the housing market.

Federal Reserve Chair Jerome Powell sent a stark message to markets following the decision to hike rates by another 75 basis points, with the central bank chief telling reporters that there's no "painless" way to bring down inflation and warning there could be more than just a "relatively modest" rise in unemployment as the Fed tightens monetary settings aggressively.

Mortgage application activity increased for the first time in six weeks during the period ended September 16 although the prior week had been shortened by a major holiday weekend. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage loan application volume, increased 3.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 14 percent compared with the previous week. The Refinance Index jumped 10 percent, its...

The volume of mortgage applications fell again last week, dragged lower by refinancing which had its largest week-over-week decline since mid-May. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, decreased 3.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index fell 5 percent. The Refinance Index plunged by 8 percent and was 83 percent lower than the same week one year ago. The refinance share of mort...

Experts dive into an upward trend in the adjustable rate mortgage demand as the market shifts.

The U.S. median rental price hit a record high for the 16th consecutive month in June but renting remains cheaper than buying a home. Indeed, the four-decade high inflation, soaring mortgage rates and...

It exceeds analysts' expectations despite headwinds in mortgage banking