Mortgage applications

Wide short-term swings in interest rates — and loan prepayments — that we've all witnessed have serious secondary effects on consumers, lenders, investors and also policymakers.

With long-term interest rates at historic lows, mortgage refinancing is coming on strong. But that additional revenue may not be enough to offset net interest margin pressures and lost servicing income.

July's low mortgage rate environment encouraged new homebuyers to overcome their fears about the direction of the economy that kept them out of the market in June, according to the Mortgage Bankers Association.

While last week's large drop in interest rates sparked a surge in refinance activity, purchase mortgage application volume increased for the first time in over a month, according to the Mortgage Bankers Association.

Rates for 30-year mortgages are at their lowest since late 2016, sending many previously hesitant homeowners to their brokers.

The economic tensions between the U.S. and China drove interest rates down last week, leading to a surge in refinance applications, according to the Mortgage Bankers Association.

Purchase mortgage applications continue to decline, falling to their lowest level since the start of the spring, as supply constraints limit homebuyer activity, according to the Mortgage Bankers Association.

Fewer consumers applied for mortgages last week even as interest rates declined by 3 to 4 basis points for all product types, according to the Mortgage Bankers Association.

Higher interest rates led to a 1.1% seasonally adjusted decline in mortgage applications compared with the previous week, according to the Mortgage Bankers Association.

After two strong months, applications to purchase newly constructed homes retrenched a bit as broader policy issues weighed on consumers, according to the Mortgage Bankers Association.