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 shot up 15.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly application survey for the week ending June 7. On an unadjusted basis, the market composite index increased 26% compared with the previous week. The refinance index increased 28% from the previous week and was also 28% higher [...]read moreRefi business is picking up on falling mortgage rates
Persistent economic trends that include inflation, a strong labor market and real gross domestic product (GDP) growth will continue to “dampen” mortgage origination activity through at least the end of 2026, according to the newest U.S. mortgage originations outlook from financial services forecasting and advisory company iEmergent. Based on 2023 Home Mortgage Disclosure Act (HMDA) [...]read moreOriginations forecast through 2026 ‘dampened’ by inflation, GDP and labor market growth
The Mortgage Bankers Association (MBA) on Wednesday announced that Owen Lee, CEO at Success Mortgage Partners (SMP), has been nominated to serve as the association’s vice chairman for the forthcoming 2025 membership year. Lee’s nomination was announced by Mark Jones, the 2024 MBA chairman and president of Union Home Mortgage, who describing Lee as “an [...]read moreSuccess Mortgage CEO nominated as MBA vice chairman
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
The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. Michelle Corridon, deputy policy director at the VA, announced at the Mortgage Bankers Association‘s Secondary & Capital [...]read moreVA to roll out temporary fix to buyer agent commission problem
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
A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. Mortgage Insurers — sent a letter on Monday to the Federal Housing Finance Agency (FHFA) to express concerns about the FHFA’s intent to publish [...]read moreTrade groups express concern to FHFA over historic credit data
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
As the August implementation deadline for the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement approaches, the window of time is shrinking for the U.S. Department of Veterans Affairs (VA) to revise its policies governing the fees that veterans cannot currently pay when using their VA loan benefit. [...]read moreTime is ticking for the VA to change broker payment rules