Glenn McCullom

Mortgage rates dropped slightly for the first time after five weeks of increases, but this is only a temporary lull as the economy remains strong, Freddie Mac said.

Mortgage application activity was relatively flat compared with the previous week, as long-term interest rates held steady following the recent Fed rate hike, according to the Mortgage Bankers Association.

Mortgage industry hiring and new job appointments for the week ending Sept. 28.

The strong U.S. economy pushed mortgage rates in the past week to their highest level in over seven years, and further hikes are on the way, according to Freddie Mac.

Mortgage applications were up 2.9% from one week earlier, even as the rate for the 30-year conforming mortgage reached its highest point in over seven years, according to the Mortgage Bankers Association.

Mortgage applications were up 1.6% from one week earlier, marking only the second increase of the past two months despite key interest rates rising, according to the Mortgage Bankers Association.

Mortgage industry hiring and new job appointments for the week ending Sept. 14.

Mortgage rates jumped 6 basis points over the past week, which led to the largest year-over-year gain in over four years, according to Freddie Mac.

Mortgage applications decreased 1.8% from one week earlier as refinance submissions fell to their lowest in nearly 18 years, according to the Mortgage Bankers Association.

Mortgage rates inched higher for the second straight week and further increases are likely in the near term, according to Freddie Mac.