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Ongoing weakness in housing markets and the economy has now driven purchase activity to its lowest level since 2015, while overall application numbers decreased for the 10th time in 11 weeks.
October 26 -
Decline was largely driven by a large dip in cash-out refinance locks.
October 11 -
Refinances inched up 2% as interest rates dipped, but accounted for only 31% of activity, compared to two-thirds a year ago.
August 3 -
Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.
July 6 -
Elevated prices coupled with higher mortgage rates are leading to affordability challenges that have reduced borrowing volumes.
June 8 -
While the purchase index registered a tiny uptick, activity has fallen to nearly the same level seen during the first months of the pandemic shutdown.
May 25 -
While longtime non-QM companies have originated mortgages in the segment for years, new contenders have come into the market as the number of potential customers who fit into the category grows.
May 11 -
Purchase numbers came in higher for both conventional and government activity, while the average loan amount shows signs of easing.
May 4 -
Surging interest rates have pushed refinance applications down by over 70% in a year, while ARMs have doubled their share in three months.
April 27 -
But the sluggish pace of refinances brought down overall application numbers last week.
March 30