Mortgage Bankers Association

Purchase apps for new homes only eked out a small gain in December but the Mortgage Bankers Association is forecasting that they will continue to increase.

Mortgage applications increased 16.7% from one week earlier to their highest level in 10 months, although rates rose in expectation of additional government pandemic relief, according to the Mortgage Bankers Association.

Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.

The organizations renewed pledges to work with the incoming Biden administration.

Mortgage applications decreased 4.2% over the final two weeks of 2020, but the strong demand for home buying throughout most of the year should continue, according to the Mortgage Bankers Association.

Mortgage applications increased 0.8% from one week earlier, an indicator of the housing market’s strength as this year comes to an end, according to the Mortgage Bankers Association.

The forbearance rate rose behind slowed economic recovery, according to the Mortgage Bankers Association.

Mortgage applications increased 1.1% from one week earlier as a decline in rates to yet another low point brought consumers into the market, according to the Mortgage Bankers Association.

The forbearance rate continued its improvement, but the surge of COVID-19 cases could lead to more borrowers needing mortgage relief, according to the Mortgage Bankers Association.

But late payments for all other investor types rose compared with the second quarter.

Mortgage application activity decreased 1.2% on a seasonally adjusted basis last week, but refinance volume picked up as interest rates reached a new survey low, according to the Mortgage Bankers Association.

In November, more loan products were being offered both at the upper and lower ends of the market.

The surge of COVID-19 cases slowed economic recovery and hampered improvements in the forbearance rate, according to the Mortgage Bankers Association.

Mortgage applications decreased 0.6% on a seasonally adjusted basis from one week earlier as the period was truncated by the Thanksgiving holiday, according to the Mortgage Bankers Association.

Mortgage applications increased 3.9% from one week earlier as another week of record low rates drew more borrowers into the market, according to the Mortgage Bankers Association.

The forbearance rate continued recovering in lockstep with employment improvement, according to the Mortgage Bankers Association.

Consumer demand for larger properties is driving the market in an atypical year that featured a delayed selling season, the Mortgage Bankers Association said.

Mortgage applications slipped 0.3% from one week earlier, as refinance volume, particularly for Federal Housing Administration and Veterans Affairs loans, shrank significantly, according to the Mortgage Bankers Association.

The Mortgage Bankers Association sees rates rising over the next two years, while Fannie Mae expects the average to remain under 3%.

Rates could be 50 basis points steeper than the MBA’s current projections, which anticipate the 30-year mortgage will average 3.3% next year, up from nearly 3% this year.