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It’s No Surprise that Refinance Mortgage Application Volume Continues to Fall

It’s No Surprise that Refinance Mortgage Application Volume Continues to Fall

If you have kept an eye on mortgage interest rates as they climb to the highest point in years, it’s no surprise to read this article on MortgageNewsDaily state “The Mortgage Bankers Association’s (MBA) latest weekly mortgage application data shows an ongoing and unsurprising decline in refinance applications.” In light of increased prices and rising rates it is interesting to note that purchase application volume is only seeing a slight decline.

April 27, 2022 Notary Near You No comments
Notary Near YouIt’s No Surprise that Refinance Mortgage Application Volume Continues to Fall
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Mortgage Application Volume Drops 8% in One Week

Mortgage Application Volume Drops 8% in One Week

Rapidly rising mortgage interest rates are having a direct impact on mortgage application volumes, particularly for mortgage refinance applications. In an article by Adam DeSanctis for the Mortgage Bankers Association (MBA) “The Market Composite Index, a measure of mortgage loan application volume, decreased 8.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 8 percent compared with the previous week. The Refinance Index decreased 14 percent from the previous week and was 54 percent lower than the same week one year ago.”

March 25, 2022 Notary Near You No comments
Notary Near YouMortgage Application Volume Drops 8% in One Week
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Learning About The Multiple Factors In Play Each Time Mortgage Rates Change

Learning About The Multiple Factors In Play Each Time Mortgage Rates Change

If you are like most Americans, you’ve spent the last few years watching mortgage rates reach historic lows. It is a complex set of factors that impact mortgage rates, and many articles attempt to simplify it.

A recent article on MortgageNewsDaily.com goes into great detail about the various aspects, including graphs that help us visualize what they are saying, It’s a good read if you want to gain a better understanding of the topic.

December 27, 2021 Notary Near You No comments
Notary Near YouLearning About The Multiple Factors In Play Each Time Mortgage Rates Change
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Millennials Are Largest Segment of Home Buyers for 8th Consecutive Year

Millennials Are Largest Segment of Home Buyers for 8th Consecutive Year

According to reports from the National Association of Realtors (NAR), millennials represent 37 percent of all homebuyers this past year, and have made up the largest share of homebuyers for 8 consecutive years.  Another interesting fact from the NAR is that many of the homes being purchased are considered multigenerational homes that will house adult siblings, adult children, parents, or grandparents.

March 26, 2021 Notary Near You No comments
Notary Near YouMillennials Are Largest Segment of Home Buyers for 8th Consecutive Year
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Have You Heard about 1.99% Mortgage Rates? There’s a Catch!

Have You Heard about 1.99% Mortgage Rates? There’s a Catch!

The mortgage industry has been offering incredibly low rate loans with low or no fees. Recent weeks have seen some mortgage lenders promoting their new 1.99% fixed rate loans, but it’s important to understand the fees involved in these loans. They might be a very good choice for some borrowers but are also a very wrong choice for many.

August 23, 2020 Notary Near You No comments
Notary Near YouHave You Heard about 1.99% Mortgage Rates? There’s a Catch!
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