Mortgage Bankers Association

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.

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

The teams include people who previously worked for the Treasury and the Federal Housing Finance Agency as well as HUD.

More than six months after the CARES Act became law, the two entities joined a host of industry organizations in launching the COVID Help for Home campaign to educate borrowers on the next steps in forbearance.

Mortgage applications decreased 0.5% from one week earlier as inadequate housing supply is putting upward pressure on home prices and affecting purchase activity, according to the Mortgage Bankers Association.

The overall mortgage delinquency rate improved in the third quarter as the economy got healthier while late-stage delinquencies hit a decade high, according to the Mortgage Bankers Association.

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

Mortgage rates are currently the lowest in the history of Freddie Mac’s survey, but sharp differences of opinion persist on whether that will make this a $4-trillion year or not.

Mortgage applications increased 3.8% from one week earlier as a drop in most loan interest rates brought on an increase in refinance activity, according to the Mortgage Bankers Association.

And an uptick from second-quarter numbers is attributed to seasonality rather than any upswing in the economy.

The forbearance rate improved to the a level not seen since early April, but getting back to pre-COVID levels will require employment gains or additional government stimulus measures, according to the Mortgage Bankers Association.