Page 6 - Industry Forecasting News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 the comparable week in 2021. [refiappschart] The seasonally adjusted and unadjusted Purchase I...

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 MCAI increased 0.3 percent, while the Government MCAI decreased by 1.6 percent. Of the component indic...