Mortgage applications

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An increase in purchase activity drove the week-over-week rise in mortgage application volume as homebuyers entered the market while interest rates fell, according to the Mortgage Bankers Association.

The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.

Mortgage applications decreased 4.3% from one week earlier although concerns over the global economy resulted in falling interest rates, according to the Mortgage Bankers Association.

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Purchase mortgage applications, which until now were unaffected by the recent rise in interest rates, fell by 4% on a seasonally adjusted basis from last week, according to the Mortgage Bankers Association.

Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high, according to the Mortgage Bankers Association.

Mortgage rates rose slightly for the second consecutive week, but should remain low for the foreseeable future, which will aid the purchase market, according to Freddie Mac.

Learning to understand the risk rather than adding steps to the mortgage application process is the way to mitigate fraud.

Mortgage application volume fell 5.6% from one week earlier as rising interest rates put an end to the recent surge in refinancings, according to the Mortgage Bankers Association.