Mortgage applications

Home affordability declined on a monthly basis across loan types and racial demographics, but improved from a year ago, the Mortgage Bankers Association said.

The contract rate on a 30-year mortgage rose 13 basis points to 6.43% in the week ended March 20, according to Mortgage Bankers Association data released Wednesday.

The contract rate on a 30-year mortgage rose 11 basis points to 6.30% in the week ended March 13 following a similar advance at the week before, according to Mortgage Bankers Association data released Wednesday.

The increase in borrowing costs coincides with a sharp rise in the 10-year US Treasury yield, which is correlated with mortgage rates, as war with Iran disrupted oil flows and sparked concerns about inflation. 

The national median payment applied for by purchase applicants rose from $2,025 in December to $2,070 last month, according to the Mortgage Bankers Association.

The contract rate on a 30-year mortgage rose 8 basis points to 6.24% in the week ended Jan. 23, according to Mortgage Bankers Association data released Wednesday.

The Mortgage Bankers Association's index of home-purchase applications rose 5.1% in the week ended Jan. 16, data from the group showed Wednesday.

Mortgage applications for new-home purchases decreased 15.2% on a seasonally adjusted basis in December, according to the Mortgage Bankers Association.

The contract rate on a 30-year mortgage dropped 7 basis points to 6.18% in the week ended Jan. 9, according to Mortgage Bankers Association data released Wednesday.

US mortgage rates fell last week to the lowest level since September 2024, a hopeful sign for the sluggish housing market to start the new year.

The MBA's Market Composite Index, a measure of mortgage loan application volume, dropped 5% on a seasonally-adjusted basis and 6% on an unadjusted basis.

Fannie Mae sees growth in refinance activity pushing volumes upward, but flattening purchases will temper lender momentum, according to its December report.

Mortgage activity fell 3.8% from one week prior for the week ending Dec. 12, led by a 4% drop in refinance applications, the Mortgage Bankers Association said.

The contract rate on a 30-year mortgage dropped 8 basis points to 6.32% in the week ended Nov. 28, which included the Thanksgiving holiday, according to Mortgage Bankers Association data released Wednesday.

The Mortgage Bankers Association's index of home-purchase applications jumped 7.6% to 181.6 in the week ended Nov. 21, data from the group showed Wednesday.

The national median payment applied for by purchase applicants fell to $2,039 in October from September, the Mortgage Bankers Association said.

Consecutive weeks of mortgage rate increases resulted in a 5.2% decrease in mortgage loan application volume, according to the Mortgage Bankers Association.

New-home mortgage applications dropped, but the annual sales pace was the strongest in over a year, the Mortgage Bankers Association said.

Mortgage loan application volume jumped 7.1% on a seasonally-adjusted basis last week, the Mortgage Bankers Association said.

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.