With Mortgage Rates (Finally!) Down, Buyers Respond!
The 30-year fixed rate dropped by 25 basis points to 7.61 percent, the largest single-week decline since July 2022
The 30-year fixed rate dropped by 25 basis points to 7.61 percent, the largest single-week decline since July 2022
MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 634,000 units last month
With the 30-year fixed rate increasing to 7.31 percent last week, rates are at their highest level since December 2000
Compared to May 2022, apps were up 16.6 percent, the fastest pace of new home sales in 15 months
Banking concerns as of late helped keep rates low, which appears to have boosted buyer confidence for the moment
The Refinance Index increased 5 percent from the previous week and was 74 percent lower than the same week one ...
Despite weeks of rising rates, mortgage applications increased 7.4 percent from one week earlier
Mortgage applications decreased 13.3 percent from one week earlier, while refi’s also fell
Existing-home sales faded for the 11th straight month, down 1.5 percent from November and 34 percent from one year ago
Compared to November 2022, applications decreased by 5 percent
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