Mortgage demand weakened again as borrowing costs climbed to their highest level in nearly three years, adding fresh evidence that the latest rate surge is pushing both homebuyers and refinance borrowers to the sidelines. Mortgage applications fell 4.2% for the week...
Mortgage demand looks very different depending on which slice of the market is being measured. Fannie Mae’s latest weekly mortgage applications data show purchase application dollar volume rose 15.2% for the week ending Sept. 18. Total refinance application...
Mortgage demand weakened again last week as borrowing costs moved sharply higher, with the Mortgage Bankers Association’s benchmark 30-year fixed contract rate climbing above 7% to its highest level in more than two years. The MBA’s Weekly Mortgage Applications Survey...
Mortgage demand weakened for a second straight week as borrowing costs moved back toward 7%, reinforcing the pressure higher bond yields are putting on both home purchases and refinancing. The Mortgage Bankers Association’s Market Composite Index fell 4.1% on a...
Mortgage demand for newly built homes weakened again in August, extending a five-month slide even as builders continued to convert enough buyers to keep estimated new-home sales above July’s pace. The Mortgage Bankers Association’s Builder Application Survey showed...
Mortgage Rates Reach 7.40%, Highest Since November 2023
