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Lowest mortgage rates in months create surge in applications

Housing Wire

The move in government refinances was driven by a 75% increase in VA loans, which have been prone to large changes in recent months, he shared. ” The refinance share of mortgage activity increased to 43.8% the previous week, while the adjustable-rate mortgage (ARM) share of activity increased to 5.8%

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Mortgage applications rebounded 20% last week as rates dipped

Housing Wire

Both homebuyers and refinance borrowers were quick to take advantage of this dip in rates, driving the purchase index 24% higher than a year ago to the strongest pace since January 2024.” The average refinance loan size jumped to its second highest in the survey at $399,600. of total applications.

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Purchase applications continue growth streak this spring

Housing Wire

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances saw a modest decrease to 6.70% from 6.71%. For 30-year fixed-rate mortgages with jumbo loan balances, rates decreased to 6.76% from 6.77%. the week prior.

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Slightly lower mortgage rates fuels strong refi activity

Housing Wire

Mortgage rates moved slightly lower last week, which led to the pace of refinance applications reaching its strongest week since October 2024, said Joel Kan , MBAs vice president and deputy chief economist. Data from this week’s measures saw the adjustable-rate mortgage (ARM) share of activity increase to 6.0%

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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% Interest rates for 5/1 ARMs increased to 5.84% from 5.81%.

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Purchase loans drive mortgage applications higher

Housing Wire

Joel Kan, associate vice president of economic and industry forecasting at the MBA, said in a statement that the increase in mortgage rates is curtailing refinance activity. Mortgage rates increased significantly across all loan types last week as the Federal Reserve ’s signaling of tighter policy ahead pushed U.S.

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Mortgage demand sinks 13% as rates soar

Housing Wire

Joel Kan , MBAs vice president and deputy chief economist, attributed the decline to the second straight week of climbing rates , as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.90% from last week’s 6.81%.