Mixed payroll and unemployment report sends long-term interest rates surging, but some analysts say the latest numbers reduce the odds of a September Fed rate hike.
After dipping to lowest level since April 1995, applications for purchase mortgages edge up 2 percent week over week but are still down 27 percent from a year ago as mortgage rates retreat from 2023 highs.
As mortgage rates hit new post-pandemic highs on inflation worries, MBA survey finds applications for purchase loans fell for the sixth consecutive week last week and are down 30 percent from a year ago.
Applications for purchase loans fell for the fifth-straight week as mixed inflation data raised doubts that Fed will ease, pushing mortgage rates to new highs.