Tag Archive for ‘finance’

Mortgage Activity Increases Despite Mortgage Rate Volatility

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Per the Mortgage Bankers Association’s (MBA) survey through the week ending March 3rd, total mortgage activity increased 7.4% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose eight basis points to 6.79%. The FRM rate has risen 61 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose… Read More ›

Mortgage Activity Increases after Dip in Rates

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Per the Mortgage Bankers Association’s (MBA) survey through the week ending February 3rd, total mortgage activity increased 7.4% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell one basis point to 6.18%. The FRM rate has fallen around 100 basis points since October of 2022. The Market Composite Index, a measure of mortgage loan application volume,… Read More ›

Mortgage Activity Remains at Low Levels

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Per the Mortgage Bankers Association’s (MBA) survey through the week ending January 6th, total mortgage activity increased 1.2% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell sixteen basis points to 6.42%. The FRM rate has remained near 6.4% over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose by… Read More ›

Mortgage Activity Increases as Rates Fall

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Per the Mortgage Bankers Association’s (MBA) survey through the week ending December 9th, total mortgage activity increased 3.2% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose one basis points to 6.42%. The FRM rate has fallen 48 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose… Read More ›

Mortgage Activity Continues to Fall as Rates Rise

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Per the Mortgage Bankers Association’s (MBA) survey through the week ending October 7th, total mortgage activity declined 2.0% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose six basis points to 6.81%. The FRM has risen 80 basis points over the past month, reaching its highest level since 2006. The Market Composite Index, a measure of… Read More ›

Mortgage Activity Falls as Rates Top 6%

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Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 9th, total mortgage activity declined 1.2% and the average 30-year fixed-rate mortgage (FRM) rate rose seven basis points to 6.01%. The FRM rate has increased 56 bps over the past month reaching a 14-year high. The Market Composite Index, a measure of mortgage loan application volume, decreased by… Read More ›

A Decade of Home Building: The Long Recovery of the 2010s

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Home building in the 2010s was a story of the Long Recovery. After the Great Recession, the number of home builders declined significantly, and housing production was unable to meet buyer demand. This deficit of housing in the United States continues to exist because of persistent supply-side headwinds for builders, creating a critical housing affordability challenge for renters and homebuyers…. Read More ›

FHA-Backed Mortgages Finance Increasing Share of New Home Sales

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NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans accounted for 71.3% of new home sales in the first quarter of 2019, a 3.3-percentage point decrease from Q4 2018 (revised). The decline comes despite lower mortgage rates, continuing a post-2012 pattern in which higher average rates have… Read More ›