Mortgage Applications Hit a 22-Year Low as Rates Climb to 5.4%
(MBA) The US Market Composite Index, gauging mortgage purchase and refinance applications, plunged by 6.5% last week to 288.4. The index is at the lowest in 22 years and was…
Mortgage Demand Submerges Further Despite Rates Easing to 5.46%
(MBA) Applications for home loan refinancing fell by 2% last week to remain 75% below the prior year, despite mortgage rates showing signs of slowing down. Homebuyers pulled back, with…
US Home Refinance Declines Almost 10% as 30-Year Mortgage Rate Hover Nearly 5%
(MBA) The refinancing index for US home mortgages fell by 9.9% in the week to April 1 to reach 1,166.3 as the mortgage rates increased. The fall in refinancing was…
US 30-Year Mortgage Tops 4%, the Highest in Nearly 3 Years
(WSJ) US average rate for a 30-year mortgage is 4.16%, the first time it has surpassed the 4% mark since May 2019. The rise in mortgage rate suggests that the…
US Mortgage Applications Fell 13.1% To a 2-Year Low Last Week
(Mortgage Bankers Association) Applications for mortgages in the US declined by 13.1% last week to hit the lowest since December 2019 as higher rates drove away home buyers. The decline…
U.K. Housing Mortgage Approvals Rise on Recovery Signs
U.K. mortgage market recovered in August, following slowdowns by COVID-19, according to a press release. Households borrowed additional 3.1 billion pounds, net, secured on their homes, a rise from July's…