Mortgage applications

Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.

Mortgage application activity decreased 3.2% from one week earlier as interest rates rose to eight-year highs and refinancings fell to an 18-year low, according to the Mortgage Bankers Association.

More veterans are turning to Department of Veterans Affairs loans to buy a house as the number of purchase mortgages shot up 59% compared to five years ago.

Mortgage application activity dropped to its lowest level since December 2014 as interest rates reached an eight-year high, according to the Mortgage Bankers Association.

Mortgage applications decreased 2.5% from one week earlier as purchase activity compared with 2017 fell for the first time in nearly three months, according to the Mortgage Bankers Association.

An increase in refinance activity in the period after Columbus Day drove mortgage applications 4.9% higher from one week earlier, according to the Mortgage Bankers Association.

Despite mortgage rates at a seven-year high and rising home prices and low inventory that are keeping consumers from buying homes, rental prices are declining in many markets.

Mortgage applications decreased sharply from one week earlier as key interest rates stayed above 5%, although purchase volume grew from a year ago, the Mortgage Bankers Association reported.

Hurricane Michael is putting mortgage transactions with a combined value of over $400 million in jeopardy, according to ClosingCorp estimates.