Mortgage News and Rate Updates
Rates Fall Across the Board, but Application Volume Continues to Dip
Mortgage rates fell once again this week, dropping to just 2.90% on 30-year, fixed-rate loans. Yet, despite the drop in rates, mortgage activity continued to decline overall. In particular, both purchase and refinance saw a decline over the last week.…
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Purchase Activity Falls, While Mortgage Rates and Refis See Uptick
For the second week in a row, overall mortgage activity increased, this time rising 1.2% over the week. Unfortunately, purchase loans decreased 4%, likely due to low inventory and rising home prices. “There continues to be strong demand for buying…
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Homebuyer Demand Remains Strong, Despite Rising Mortgage Rates
Mortgage rates rose yet again, dampening refinance demand significantly. According to the latest data from the Mortgage Bankers Association, the average rate on a 30-year, fixed-rate loan now clocks in at 3.36% — up 0.50 since the start of 2021.…
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Purchase Loans Increase; Refis Slide as Rates Jump Again
Once again, mortgage rates are up, and overall activity is down. According to the Mortgage Bankers Association, mortgage applications were down 1.3% this week. Refinancing activity dipped 5% and is now 43% lower than it was a year ago. The…
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Mortgage Rates, Applications Jump Thanks to Economic Optimism
Mortgage applications recovered slightly from last week, inching up 0.5% compared to the week prior, according to the Mortgage Bankers Association. Purchase loans increased by 2%, while refinance loans rose just 0.1%. The news is a little surprising given the…
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Rates Rise for Third Week in a Row, Sending Applications Downward
Mortgage activity fell for the third week in a row, as interest rates rose once again. According to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association, loan application volume fell by 11.4% over the last week. Purchase…
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Mortgage Activity Slides as Interest Rates Rise Again
Mortgage activity dipped this week as interest rates once again jumped. According to the latest data from the Mortgage Bankers Association, overall mortgage applications dropped 5.1% — up from last week’s decrease of 4.1%. Purchase loans fell the most, dipping…
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What to Know If You Get Married—And Already Own a House
It’s one thing if you get married and then buy a home. But what happens if you do the opposite, and buy a home before tying the knot? Do you need to put your new wife or husband on the…
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Mortgage Rates Slide, Applications Jump
Mortgage activity ended its recent slump last week. According to the latest data from the Mortgage Bankers Association, applications were up 8% over the week prior. The bump comes after two weeks of declining loan activity and was largely due…
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Mortgage Applications Fall as Interest Rates Tick Up
Mortgage applications were down last week, dropping about 2% from the week prior, according to the latest survey from the Mortgage Bankers Association (MBA). The overall drop came from a decline in refinance applications, which fell 5% for the week.…
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