Mortgage applications

The recent spike in mortgage interest rates reduced home purchase application activity last week, contributing to a 10.1% decline in total activity, according to the Mortgage Bankers Association.

Mortgage rates had their largest week-to-week uptick since October 2018 as bond market investors reacted to positive news about the economy, according to Freddie Mac.

Mortgage applications decreased 0.1% from one week earlier as conforming and jumbo interest rates climbed back above 4%, which slowed refinance activity, according to the Mortgage Bankers Association.

The low mortgage rates of August drove new homebuyers to cannonball into the purchase market compared to the year before, according to the Mortgage Bankers Association.

Mortgage applications increased 2% on an adjusted basis from one week earlier driven by gains in the purchase market while refinance activity was flat, according to the Mortgage Bankers Association.

Mortgage applications fell 3.1% from one week earlier even with another decrease in rates, according to the Mortgage Bankers Association.

Mortgage rates rose for the first time since the middle of July, but that, along with continued consumer worries about the economy, helped to reduce application activity from the prior week.

Digitizing the lending experience can go a long way toward boosting mortgage applications even as interest rates continue to fluctuate.

Mortgage application volume fell last week as the small drop in interest rates slowed refinancing activity, while economic worries likely kept purchasers out of the market, according to the Mortgage Bankers Association.

The Mortgage Industry Standards Maintenance Organization is working with stakeholders to come up with a common means of handling new tax transcript authorization requirements in the Taxpayers First Act.