Tag Archives: mortgage application volume

FOMC raises the borrowing rate half a percentage point, capping a series of four consecutive three-quarter-point hikes.

After experiencing a near 5% monthly drop in pending October sales, NAR reported the near-20-year high in mortgage rates and expensive home prices forced many prospective buyers to the sidelines.

With news that inflation may have peaked, Freddie Mac reports that the fixed-rate mortgage fell below the 7% mark, leading to a slight rise in overall mortgage app volume for the week.

CoreLogic S&P Case-Shiller Index reports higher mortgage rates and recessionary concerns are taking a toll on buyer demand, as growth eased slightly in May from the pace of the prior two months.

Despite housing inventory falling slightly to a 7.7 months’ supply month-over-month, the nation's supply was up 34.5% over last May, with 444,000 units available for sale.

A combination of increased staffing and a drop in refi volume cut into profitability in the third quarter of 2021.