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BofA is betting the Federal Reserve will make only one cut to the federal funds rate by the end of this year. MBA says originators are in for a $1.6 to $1.8 trillion year.
Mortgage applications for newly built homes jumped 15.7% in February from a year ago, according to data from the Mortgage Bankers Association’s (MBA) latest Builder Application Survey.
Higher interest rates in recent weeks have made a dent in housing activity and brought down mortgage demand.
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Mortgage applications for new-home purchases jumped 19.1% in January compared to a year ago and rose 38% month over month, according to the January Mortgage Bankers Association (MBA) Builder Application Survey.