Mortgage applications

Strong growth in refinance volume following several weeks of so-so activity drove a 5.1% week-to-week increase in mortgage applications, according to the Mortgage Bankers Association.

Mortgage applications to purchase new homes were up 54% compared to the same month the year before.

For the first time in three weeks, mortgage application volume increased, this time by 2.2%, as purchase activity was up in a holiday-shortened week, according to the Mortgage Bankers Association.

Mortgage application volume was down for the second consecutive week, this time by 1.8%, as a new record low for rates was not enough to overcome diminished demand, according to the Mortgage Bankers Association.

First American's Loan Application Defect Index is higher on a month-to-month basis for the first time since February 2019.

Contract signings to purchase previously owned homes surged in May by the most on record as mortgage rates fell and some states began to reopen from coronavirus lockdowns.

Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one week earlier, according to the Mortgage Bankers Association.

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

Sales of previously owned homes dropped in May by more than forecast to the lowest level since October 2010 as the coronavirus pandemic sent demand skidding along with the rest of the economy.

The language most frequently spoken by LEP consumers is Spanish, followed by Chinese, Vietnamese, Korean and Tagalog. The Federal Housing Finance Agency's online clearinghouse translates CARES Act forbearance information into these languages.