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Mortgage Application Volume Fairly Flat, Despite Lower Rates
June 21, 2023
Mark Paul Cervantes
Mortage News
Comments Off on Mortgage Application Volume Fairly Flat, Despite Lower Rates
The Mortgage Bankers Association (MBA) said home purchase activity increased last week, allowing for a small gain in its Market Composite Index. That index, a measure of mortgage loan application volume, increased 0.5 percent on […]
Weekly mortgage demand drops again, as interest rates match a 22-year high
August 16, 2023
Mark Paul Cervantes
Economy, Mortage News, Top News
Comments Off on Weekly mortgage demand drops again, as interest rates match a 22-year high
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.16% from 7.09%. Mortgage demand from homebuyers was 26% lower than the same week one year ago. […]
Opinion: The Fed broke the banks. What’s next for mortgage?
March 20, 2023
Mark Paul Cervantes
Housing Wire
Comments Off on Opinion: The Fed broke the banks. What’s next for mortgage?
It is often said that the Fed raises interest rates until something breaks. Many have already pointed to the failures of Silicon Valley Bank, Silvergate Bank, and Signature Bank as evidence that the Fed “finally […]