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Purchase Applications

All articles tagged with #purchase applications

real-estate3 years ago•7 min saved

US Housing Market: Tight Inventory and High Mortgage Rates Impact Sales

Mortgage rates hit a new 2023 high of 7.12% due to the debt-ceiling drama pushing bond yields up, while purchase application data had a second straight week of declines. Active housing inventory saw some decent growth last week, rising by 8,914 week to week, even though new listing data is still trending at all-time lows in 2023. The week ahead will focus on the bond market reaction to the debt ceiling agreement, watching to see if the spreads improve for mortgage rates and jobs data.

via HousingWire|

#bond-yields #housing-inventory #jobs-data

real-estate3 years ago•8 min saved

Mortgage Rates Fall Nearly 1% in Housing Market Tracker

Mortgage rates dropped almost 1% last week as the 10-year yield broke below a critical technical level. Active inventory rose slightly, but new listing data is still trending at all-time lows. Purchase applications fell 4% weekly, breaking a four-week streak of positive growth and are still down -35% year over year. The upcoming inflation data and retail sales will impact pricing in the bond market and mortgage rates.

via HousingWire|

#bond-market #housing-inventory #inflation

business3 years ago•0 min saved

Home Listings Shortage Causes Mortgage Demand to Drop

Mortgage rates have decreased in recent weeks, but the volume of home loan applications dropped by 4.1% during the week ended March 31, with purchase applications falling by 4%, snapping a four-week streak of gains, according to the Mortgage Bankers Association. Refinance applications also fell by 5%. Both indexes remained significantly lower than year-ago levels.

via Barron's|

#business #home-buying #mortgage-bankers-association

real-estate3 years ago•1 min saved

Mortgage Rates Fluctuate: What Homebuyers Need to Know

Lower mortgage rates have led to a 2.9% increase in demand for mortgage applications, with the refinance index increasing by 5%. The purchase index also increased by 2%, leading to a fourth straight increase in purchase applications. Homebuyers have responded positively to the decline in rates, despite the 30-year fixed rate remaining 1.65 percentage points higher than a year ago. The slowing of home price growth in many parts of the country has helped to improve buyers' purchasing power.

via Fox Business|

#homebuyers #housing-market #mortgage-rates