Mortgage applications

Falling rates provided a boost for the refinance market, with activity hitting a two-year peak, according to the Mortgage Bankers Association.

Both purchase and refinance applications dropped, with borrowers potentially holding out for lower mortgage rates later this year, according to the Mortgage Bankers Association.

While the number of refinances saw a small uptick last week, purchase lending languished as housing costs keep buyers sidelined, the Mortgage Bankers Association said.

The monthly pace of growth in applications for new single-family constructions fell for the first time in 2024, according to the Mortgage Bankers Association.

Refinance transactions shot up over 15% to their highest volume in almost two years, the Mortgage Bankers Association said.

Declining refinance activity offset the growth in government-backed purchases, the Mortgage Bankers Association said.

Despite a slow return of housing inventory, purchase application numbers dipped in a week where interest rates finished higher, the Mortgage Bankers Association said.

May's falling interest rates as well as ongoing wage growth helped improve home affordability across borrowing segments and racial groups, the Mortgage Bankers Association said.

Borrowers in the government-purchase market returned to the table in greater numbers, as rates declined, the Mortgage Bankers Association said.

Activity grew at a slower pace from seven days earlier, as refinance volume retreated, according to the Mortgage Bankers Association.

Borrowers still sought opportunities in the homebuilder market with activity trending upward for over a year, even as existing inventory showed signs of expanding.

Homeowners responded to moderating interest rates and brought in significantly more refinance volume, with Department of Veterans Affairs numbers more than doubling from the prior week.

Both purchases and refinances dipped as rates failed to help borrowers, but government lending picked up a rising share of loan volume, the Mortgage Bankers Association said.

With home prices also climbing up faster than expected for the time of the year, median new loan payments headed higher by more than 2%, according to the Mortgage Bankers Association.

An uptick in interest rates kept borrowers on the sidelines, as both purchases and refinances dropped, the Mortgage Bankers Association said.

Companies are seeing evidence of income falsification, which previous research shows is the most common type of fraud or defect risk.

Application volumes increased, as interest rates slid down to their lowest mark in almost two months, the Mortgage Bankers Association said.

Refinance activity jumped for a second week, as interest rates trended downwards, the Mortgage Bankers Association found.

Purchases and refinances both contributed to weekly growth, with notable increases in certain government-lending segments, the Mortgage Bankers Association said.