Homebuyer affordability improved last month as the national median payment applied for by purchase applicants dropped by 0.8% from $2,057 in August to $2,041 in September, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index....
Mortgage rates continued their upward climb in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.72% as of Oct. 31, up from last week when it averaged 6.54%. A year ago at this time, it...
While current mortgage rates are in the vicinity of 7%, roughly half (45%) of recent homebuyers secured a mortgage with a rate below 5%, according to data from Zillow (NASDAQ: Z, ZG). More than one-third (35%) of these recent buyers were able to get a lower rate...
Mortgage application activity was flat in the latest data report from the Mortgage Bankers Association (MBA) covering the week ending Oct. 25. The Market Composite Index, the MBA’s measure of mortgage loan application volume, dipped by 0.1% on a seasonally adjusted...
Bob Broeksmit is president and CEO of the Mortgage Bankers Association (MBA). This column is edited and adapted from prepared remarks delivered today at the MBA’s 2024 Annual Convention and Expo in Denver. While the rest of the country is anxious about the...
Total mortgage origination volume is expected to increase to $2.3 trillion in 2025 from the $1.79 trillion expected in 2024, according to a forecast from the Mortgage Bankers Association (MBA). In the new forecast, purchase originations will increase 13% to $1.46...
