Demand for purchase mortgages drops for 3rd week in a row

Lender survey shows applications from homebuyers is down 12 percent from a year ago, as mortgage rates continue to rebound from December lows on stubborn inflation data. Continue reading

Homebuyer purchase loan demand falls again as mortgage rates firm

After picking up during the first three weeks of January, applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs. Continue reading

Housing sentiment improves on hopes for lower mortgage rates

Consumer sentiment toward housing increased to the highest level in nearly two years in January, with a record number of Americans expecting mortgage rates to come down in the year ahead. Continue reading

Blowout January jobs report has mortgage rates surging again

Employers added 353,000 workers to their payrolls in January, a “head scratching” jobs report from the Labor Department that kills prospects for a March rate cut “stone dead,” economist says Continue reading

Fed policymakers want more data, dash hopes of March rate cut

Fed Chair Jerome Powell says a rate cut at the central bank’s next meeting is not “the base case,” with policymakers wanting to see more data showing inflation is on a sustainable path down to 2 percent. Continue reading

Applications for purchase loans sag for first time in 2024

Firming up of mortgage rates finally catches up with homebuyer demand, with applications for purchase loans falling by a seasonally adjusted 11 percent last week, MBA survey shows. Continue reading

Demand for purchase mortgages climbs for 3rd week in a row

Purchase mortgage applications surge by 8 percent as homebuyers seeking to take advantage of the recent decline in rates get an early jump on the spring homebuying season. Continue reading

Falling mortgage rates should boost home sales: Fannie Mae

Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent. Continue reading

Purchase loan applications soar 9% following drop in mortgage rates

Trend could bode well for the spring homebuying season, the Mortgage Bankers Association said Wednesday, but Fed may take its time before cutting rates. Continue reading

Jump in key inflation gauge may delay mortgage rate relief

Futures markets still hold out hope for a March rate cut, even as annual inflation increased to 3.4 percent in December, moving away from the Fed’s 2 percent goal for the first time since September. Continue reading