Joel Kan Archives - The Michigan Star

Mortgage Applications Increase to Six-Week High

November 25, 2023 Michigan Star Staff

Applications for mortgages ticked up to a six-week high for the week ending on Nov. 17 in a sign that the housing market might become more accessible to average Americans following rising prices and high mortgage rates, according to the Mortgage Bankers Association (MBA).

The number of mortgage applications increased by 3% compared to a week earlier when seasonally adjusted, according to a press release from the MBA. The increase in volume follows a decline in the average interest rate for a 30-year fixed-rate mortgage, which fell to 7.41% from 7.61% in the same time period.

Mortgage Rates Increase Last Week Alongside a Rise in Refinancing

August 15, 2022August 14, 2022 The Center Square

Mortgage rates increased last week, leading to an uptick in the refinance rate.

According to the latest weekly survey by the Mortgage Bankers Association, mortgage rates increased last week after dropping for two consecutive weeks.

Mortgage Applications Plummet as Housing Prices Surged to Record High

February 24, 2022 Admin

Mortgage applications plummeted to their lowest level in three years as rates continued to edge higher, hitting home buyers and refinancers.

Mortgage applications decreased 13.1% in the week ending Feb. 18, the lowest level since December 2019, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey. The survey, which measures mortgage loan application volume, found refinancing activity decreased 15% on a weekly basis and was 56% lower than the same period one year prior.