Glenn McCullom

Mortgage application activity increased from the prior week, driven by strong refinance volume after a 35-basis-point drop in conforming loan interest rates, according to the Mortgage Bankers Association.

Mortgage industry hiring and new job appointments for the week ending March 27.

The actions taken by the Federal Reserve to calm the financial markets was key to the drop in mortgage rates this week, according to Freddie Mac.

There was a nearly 30% week-to-week decline in loan applications as Americans reacted to the uncertainty, both economic and medical, from the spread of COVID-19, according to the Mortgage Bankers Association.

Mortgage industry hiring and new job appointments for the week ending March 20.

Mortgage rates rose sharply this week as originators looked to manage the overwhelming demand from consumers, according to Freddie Mac.

Mortgage application volume decreased 8.4% compared with one week earlier as lenders managed activity by raising rates even as 10-year Treasury yields fell below 1%, according to the Mortgage Bankers Association.

Mortgage industry hiring and new job appointments for the week ending March 13.

Paradoxically, mortgage rates actually increased this past week, even as the 10-year Treasury yield plumbed new depths, likely because lenders are too busy to handle the influx of applications.

The Mortgage Bankers Association raised its refinance projections for 2020, a move precipitated by an application volume increase of 55.4% from one week earlier.