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Even though mortgage interest rates moved lower again last week, application activity continued to decline. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, decreased 2.3 percent on a seasonally adjusted basis and 3.0 percent before adjustment during the week ended May 27. The Refinance Index fell another 5 percent from the previous week, leaving it down by 75 percent from its level during the same week in 2021. Refinancing made up 31.5 ...

Mortgage rates fell for the fourth time in five weeks amid economic worries

Mortgage applications are down again even though interest rates also dropped for the second straight week, according to the Mortgage Bankers Association’s weekly report. According to the Weekly Applications Survey, applications fell 1.2% from a week earlier. On an unadjusted basis, the Index decreased 2% compared with the previous week.  The  Refinance Index Rate also decreased by 4% from the previous week and was 75% lower than the same week one year ago. 

The downward trend in existing home sales held firm in April as rising price tags and mortgage rates continued to strain buyer activity, according to a new report from NAR.

It’s a tough environment for anyone who wants to buy a house. Record low inventory and peak prices leave few options, besides overbidding — which drives prices higher. That could end as mortgage rates increase.

The volume of mortgage application submitted during the week ended April 29 ended a seven-week slide. The Mortgage Bankers Association (MBA) said purchase applications were substantially higher than the prior week while refinance applications held their own. MBA’s Market Composite Index, a measure of application volume, increased 2.5 percent on a seasonally adjusted basis from the prior week and was up 3.0 percent higher on an unadjusted basis. Refinancing has fallen by 71 percent since...

A sharp run-up in mortgage rates has prompted speculation about possible cooling in house prices in the red-hot U.S. market, with real estate research firm Zillow lowering its home price forecast for 2023 by 1.6 percentage points.

Sales of previously-owned homes in the United States fell in March as mortgage rates climbed to a 12-year high, leading mortgage refinance demand to plunge by an annual 68 percent while house prices hit a new record.

Mortgage refinance demand dropped for the week ending April 8 according to the Mortgage Bankers Association (MBA) while also expecting refinance originations to drop by double digits in 2022.

Two full years after the COVID-19 virus upended life the Mortgage Bankers Association’s (MBA’s) Mortgage Credit Availability Index (MCAI) remains some 50 points below the range where it had hovered for several years before the pandemic hit. MBA says the index, fell 07 percent in March, to 125.1. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI has four components. The Conventional MC...