Page 18 - Weekly Applications News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Although fears of a recession are bringing mortgage rates down, would-be homebuyers aren't rushing to apply for loans, according to a weekly survey of lenders.

The volume of mortgage applications rose fractionally last week as rates edged down and applications for refinancing staged a small comeback. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 0.7 percent on a seasonally adjusted basis from one week earlier although it was down 20 percent from the prior week before adjustment. Applications for refinancing rose 2.0 percent week-over-week but were 80 percent below the level during the same week in 2021. The share of refinance applications ticked up from 29.7 percent of the total receive...

Rebounding from a week with a holiday, mortgage applications increased 6.6% last week from a week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The survey for the week ending June 10, 2022, are compared to the prior week, which included an adjustment for the Memorial Day holiday, the MBA said.

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 Mortgage Bankers Association’s Mortgage Credit Availability Index has dropped for the second consecutive month. It’s largely driven by a drop in government mortgage credit availability of 6.5%.