Mortgage applications

Refinancing volume dropped to its lowest level in three months, while purchases also decreased in number.

As applications dropped, average loan sizes grew, with the purchase amount hitting its highest level since May.

Purchases jumped to a high not seen since April, while refinances were also up due to the increased use of government programs.

But the pace of refinances was at its slowest since July, even as interest rates remained low.

Refinance and purchase applications both declined, while average loan sizes shrunk for the fifth consecutive week.

Purchases and refinance activity both edged higher, as loan sizes decreased, signaling opportunities may exist for first-time buyers.

Increased purchase lending and added pressure from Fannie Mae and Freddie Mac’s new loan limits should drive the likelihood of borrower misrepresentation.

Despite declining rates, refinancing volume fell, while purchases slowed even further after dipping to its lowest point in over a year.

Such applications have declined on an annual basis for the past three months, but overall weekly numbers increased due to a jump in refinances amid plummeting rates.

Despite lower numbers, refi applications continued trending strongly, while purchases fell close to lows from more than a year ago.

Meanwhile, the average new-home mortgage price climbed to a new all-time high, according to the Mortgage Bankers Association.

Purchase loans also increase, as their average size shrinks

Government-sponsored loans gain volume share, but overall numbers tumble to a point not seen since before the pandemic.

Limited housing supply, climbing rates cause applications to decline across the board.

Increases in refinances, both in applications and average size, help lead overall numbers higher

Demand was strongest at the high end of the market, which pushed loan amounts up for the fourth straight month.

A spike in government-sponsored applications helped lead indexes to their largest gains in several weeks.

Purchase loans tick upward, even as housing demand pushes prices well above 2020 levels.

The MBA’s Market Composite Index decreased a seasonally adjusted 4% last week, dropping to a point not seen since February 2020.

While purchases increased, refinancing activity slowed considerably compared to its pace over the past month.