Lending

Mortgage rates top 7% for first time since 2002 

A 30-year fixed-rate mortgage rose to 7.08% this week from 6.94% a week ago, Freddie Mac reported. A year ago, the average mortgage carried a 3.14% rate. 

MBA: Mortgage applications fall as 30-year fixed hits 21-year high

At the same time, mortgage applications declined 1.7% on a seasonally adjusted basis on a week-over-week basis, according to the Mortgage Bankers Association. 

30-year fixed tops 6% for first time since 2008 in latest MBA survey 

Mortgage applications declined 1.2% during the week ended Sept. 9, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. 

Mortgage application rates fall to lowest level in more than 20 years

Worsening affordability challenges are affecting first-time homebuyers

Mortgage applications rise for second week despite historically high rates 

Despite a slow start to the spring homebuying season, prospective buyers are showing some resiliency in the face of higher mortgage rates, as seen by two weeks in a row of increasing loan applications. 

Mortgage applications fall as rates hit 13-year high 

Overall mortgage-application volume was at its lowest level since 2018, the Mortgage Bankers Association said.

Mortgage applications slide with rate hike and more Ukraine uncertainty ahead

“Investors are weighing the impacts of rapidly increasing inflation in the U.S. and many other parts of the world against the potential for a slowdown in economic growth due to a renewed bout of supply-chain constraints.” — MBA associate vice president of economic and industry forecasting Joel Kan

Mortgage applications rise, interest rates fall as Ukraine uncertainty roils markets 

“Looking ahead, the potential for higher inflation amidst disruptions in oil and other commodity flows will likely lead to a period of volatility in rates.” — MBA associate vice president of economic and industry forecasting Joel Kan 

Mortgage applications fall to pre-pandemic low as rates rise 

Mortgage applications fell more than 13% in the most-recent week tracked by the Mortgage Bankers Association’s Market Composite Index, while interest rates continued to rise. 

Mortgage applications fall more than 8% 

The average contract interest rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration increased to 3.93% from 3.86%, the Mortgage Bankers Association said. 

Mortgage applications, interest rates rise first week of January

“MBA expects solid growth in purchase activity this year, as demographic drivers and the strong economy support housing demand,. However, the strength in growth will be dependent on housing inventory growing more rapidly to meet demand.” — Mortgage Bankers Association associate vice president of economic and industry forecasting Joel Kan

Mortgage applications fall during last two weeks of 2021

At the same time, the average 30-year fixed-rate mortgage rose to 3.33%, its highest level since April 2021, the Mortgage Bankers Association said.

Omicron worries push mortgage rates down

Fears of an economic fallout are causing long-term U.S. mortgage rates to fall as the newest COVID-19 strain reignites worry among Americans. 

LoanSnap closes home loan in less than 24 hours

LoanSnap said it used  its innovative AI technology, affectionately called Nell, to close the loan in the record-breaking amount of time.

Mortgage applications rise in latest survey, as rates decline for the first time in a month

The decline in mortgage rates prompted an uptick in refinancing, with government refinances increasing more than 20% over the week, MBA associate vice president of economic and industry forecasting Joel Kan said in a press release.

FHFA announces conforming loan limits for Fannie and Freddie mortgages

The Federal Housing Finance Agency (FHFA) recently announced its 2022 conforming loan limits (CLL) for conventional loans acquired by Fannie Mae and Freddie Mac.

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