New-home purchase mortgage applications rose 1% month over month and 13.8% year over year in May, according to data released Thursday by the Mortgage Bankers Association (MBA). The data is derived from the trade group’s survey of homebuilders. The MBA also estimated that sales of new single-family homes reached a seasonally adjusted annual rate of [...]read moreNew homes remain in demand as mortgage applications rise in May
Mortgage applications slumped heading into Memorial Day weekend. Applications decreased by 5.7% on a seasonally adjusted basis during the week ending May 24, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. The MBA said the 30-year fixed mortgage rate rose for the first time in four weeks, to 7.05% from 7.01%. (Other [...]read moreMortgage demand slides to lowest level since early March
Mortgage demand ticked up last week as interest rates declined for a second week in a row. Applications increased by 0.5% on a seasonally adjusted basis during the week ending May 10, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Treasury yields continued to move lower last week and mortgage rates declined [...]read moreMortgage applications rise slightly as rates decline for second straight week
Nonbank lender Panorama Mortgage Group (PMG) launched a new program that allows first-time homebuyers to take out a loan with a 1% down payment, the company announced on Wednesday. The new offering, known as the 1st Generation Homebuyer program, also includes a 2% grant to reach the conventional down payment minimum of 3%. “We believe [...]read morePanorama Mortgage Group launches 1% down payment loan program
Mortgage demand ticked up last week as interest rates decreased following the news of a slowing job market. Applications increased by 2.6% on a seasonally adjusted basis during the week ending May 3, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Treasury rates and mortgage rates fell last week on the news of a [...]read moreMortgage applications tick up as interest rates ease: MBA
Mortgage demand dipped last week as mortgage rates reached their highest levels since November 2023. Applications decreased by 2.3% on a seasonally adjusted basis during the week ending April 26, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Inflation remains stubbornly high, and this trend is convincing markets that rates, including mortgage [...]read moreMortgage demand continues to fall as rates soar
Homebuyer affordability declined in March as mortgage rates and home prices remained elevated. The national median monthly payment for purchase mortgage applicants rose to $2,201 in March, up from $2,184 in February. That’s according to the Mortgage Bankers Association‘s (MBA) purchase applications payment index, which measures how new monthly mortgage payments vary across time relative [...]read moreMedian payment on purchase mortgage applications rises to $2,201: MBA
Mortgage demand dipped last week as mortgage rates reached their highest levels since late 2023. Applications decreased by 2.7% on a seasonally adjusted basis during the week ending April 19, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Mortgage rates continued to move higher last week, reaching their highest levels since late [...]read moreMortgage demand slumps as interest rates move higher: MBA
Mortgage demand increased for the second week in a row on the back of a strong economy. Applications increased by 3.3% on a seasonally adjusted basis during the week ending April 12, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Rates increased for the second consecutive week, driven by incoming data indicating [...]read moreMortgage demand ticks up for second consecutive week
Mortgage applications for new homes stalled in March as buyers felt the brunt of sustained home price growth. Compared to February 2024, mortgage applications for new-home purchases rose 1% in March. Applications were up 6.2% from March 2023, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey. According to MBA estimates, new single-family home [...]read moreDemand stalled in March for new-home purchases: MBA