Eye On Housing
Per the Mortgage Bankers Association’s (MBA) survey through the week ending November 3rd, total mortgage activity increased 2.5% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell 25 basis points to 7.61%. The FRM rate has decreased by 6 basis points over the past month but has hovered between 7.5% and 8.0% for six consecutive weeks…. Read More ›
Tag Archive for ‘mortgage lending’
Mortgage Activity Increases Despite Rise in Interest Rates
Per the Mortgage Bankers Association’s (MBA) survey through the week ending October 6th, total mortgage activity increased 0.6% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose 14 basis points to 7.67%. The FRM rate has increased 40 basis points over the past month to its highest level since 2000. The Market Composite Index, a measure… Read More ›
Mortgage Activity Low as Rates Remain Above Seven Percent
Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 8th, total mortgage activity decreased 0.8% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose six basis points to 7.27%. The FRM rate has remained above 7% since the start of August. The Market Composite Index, a measure of mortgage loan application volume, fell… Read More ›
New Home Sales Increasingly Backed by FHA Loans
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to 14.0% in the second quarter of 2023. It is the largest share since Q1 2021 but roughly three percentage points lower than the post-Great Recession average. Conventional loans financed 73.7%… Read More ›
Mortgage Activity Increases Despite Rates Topping 7%
Per the Mortgage Bankers Association’s (MBA) survey through the week ending July 7th, total mortgage activity increased 0.9% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose 22 basis points to 7.07%. The FRM rate has risen 30 basis points over the past month and topped 7% for the first time since November of 2022. The… Read More ›
Mortgage Activity Increases as Affordability Improves
Per the Mortgage Bankers Association’s (MBA) survey through the week ending June 9th, total mortgage activity increased 7.2% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell five basis points to 6.77%. The FRM rate has risen 20 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose… Read More ›
Mortgage Activity Increases Despite Affordability Issues
Per the Mortgage Bankers Association’s (MBA) survey through the week ending May 5th, total mortgage activity increased 6.3% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell two basis points to 6.48%. The FRM rate has risen 18 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose… Read More ›
Mortgage Activity Increases as Rates Fall for 5th Straight week
Per the Mortgage Bankers Association’s (MBA) survey through the week ending April 7th, total mortgage activity increased 5.3% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell ten basis points to 6.30%. The FRM rate has fallen 41 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose… Read More ›
Mortgage Activity Increases Despite Mortgage Rate Volatility
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
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 ›