Purchase

The recent increase in loan size across all application types reflects rising prices, which contributed to a drop in applications, Mortgage Bankers Association economist Joel Kan said.

Residential value growth in March reached heights not seen since the lead up to the housing bubble, according to CoreLogic.

As consumers search for homebuying advantages, local lenders discuss the 12 metro areas where it’s more affordable to purchase a property rather than rent a comparable house, according to Realtor.com data.

After a one-week reprieve, mortgage activity waned again with decreased demand for refinances and extremely low inventory for homebuyers.

The recent compression allays fears that lenders would have difficulty serving the needs of borrowers with time-sensitive purchase contracts during a peak season.

Building timelines are finally stable enough for nonbank American Financial Resources to return to the conventional market following the pandemic-related disruption, according to a company executive.

Inflation, an improving economy and the increased federal budget deficit make rate increase inevitable this year, the Mortgage Bankers Association said.

While purchase volume is seeing its usual seasonal pickup, lower rates caused a spike in activity among existing homeowners looking to refinance.

As listings were snagged at near-record speed, inventory hit yet another new low point, according to Remax.

And with demand far outweighing supply, the average new-home purchase loan ascended to another record high.