Mortgage Bankers Association

The latest refinance surge helped lift total application activity up for a second straight week, even as purchases fell, the Mortgage Bankers Association said.

Lenders increased offerings in jumbo and non-QM segments as the industry focuses on customers with strong credit, the Mortgage Bankers Association said.

A presidential memo on Monday imposed a pause on certain types of government funding until programs are reviewed to ensure compliance with Trump executive orders.

New chairs Nanci Weissgold and Bill Nelson both also sit on the trade association's board of directors.

The sales pace of new constructions in November was the third highest this year, according to the Mortgage Bankers Association.

The median monthly payment amount for new purchases moved higher for the first time in six months, according to the Mortgage Bankers Association.

Both purchases and refinances came in higher, with government-backed lending providing momentum, the Mortgage Bankers Association said.

Loan applications increased for the third week in a row, as borrowers responded to recent falling rates, the Mortgage Bankers Association said.

Purchases managed a small rise, but refinance activity held steady, according to the Mortgage Bankers Association.

While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.

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.

Moderating price growth and higher wages are leading to affordability relief, 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.