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Mortgage applications climb as rates continue to decline

Housing Wire

As we enter the spring homebuying season, the purchase index was more than 4% higher than a year ago, and activity was up across all loan categories. Government purchase applications experienced an 11% increase helped by the FHA rate dropping to 6.34%. The refinance share of mortgage activity increased to 45.6%

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We just had the strongest refi week in months

Housing Wire

Mortgage rates moved lower last week, consistent with lower Treasury yields following the FOMC meeting and a volatile week for [the] stock market. The 30-year fixed rate declined to its lowest level in six weeks at 6.97%, said Joel Kan, MBAs vice president and deputy chief economist. from the week prior.

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Mortgage applications drop after weeks of growth

Housing Wire

That’s according to the latest data from the Mortgage Bankers Associations (MBA) weekly mortgage applications survey for the week ending March 14, 2025. The Market Composite Index, which measures mortgage loan application volume, decreased 6.2% The refinance share of mortgage activity decreased to 42.0%

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No, homeowner delinquency rates aren’t elevated

Housing Wire

However, the data references Freddie Mac ‘s Serious Delinquency levels on multifamily loans. These loans pertain to multifamily mortgages, which are used for commercial properties with five or more units, such as apartment buildings. Some people are trying to imply that we have major stress in homeowner data.

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Slightly lower mortgage rates fuels strong refi activity

Housing Wire

Mortgage applications increased 2.3% The Mortgage Bankers Association ‘s market composite index increased 6% on an unadjusted basis compared with the previous week. The average loan size for refinance borrowers increased, as these borrowers tend to be more responsive for a given change in rates. from 16.2%

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Purchase applications continue growth streak this spring

Housing Wire

Treasury yields continue to be volatile as economic uncertainty dominates markets. Most mortgage rates finished last week lower, with the 30-year fixed essentially unchanged at 6.70%. For 30-year fixed-rate mortgages with jumbo loan balances, rates decreased to 6.76% from 6.77%.

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Mortgage applications up 33.3% from holiday week

Housing Wire

While the market composite index increased over 33% on a seasonally adjusted basis, the index increased 52% on an unadjusted basis during the same time period. Department of Agriculture (USDA) loans decreased. This week’s reading, for the week ending Jan. The V A share shrunk to 15.7% from 16.2% from last week’s 0.6%.