Contractors work on concrete slabs in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Builder sentiment in the market for single-family homes fell sharply in May, as mortgage rates shot higher and building material costs showed no […]
Tag Archives: falls
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The nation’s mortgage bankers are scaling back their expectations for the year as rapidly rising rates make it even more expensive to buy a home. The Mortgage Bankers Association now calls for overall mortgage originations, which include refinancing loans, to total $2.58 trillion in 2022, a 35.5% decline from 2021. The previous forecast was for […]
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Mortgage demand continued to crumble last week, as mortgage rates climbed to their highest level since 2010. Total application volume fell 5% last week compared with the previous week and was nearly half of what it was one year ago, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for […]
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ShareShare Article via FacebookShare Article via .Share Article via LinkedInShare Article via E. Refinance demand for mortgages dropped 15% in just one week, according to the Mortgage Bankers Association. CNBC’s Diana Olick joins ‘Squawk Box’ to break down the latest data. 01:54 Wed, Mar 30 20227:54 AM EDT source
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A home stands for sale in a Brooklyn neighborhood on New York City. Spencer Platt | Getty Images A sharp jump in mortgage rates last week soured demand from both current homeowners and potential homebuyers, causing mortgage applications to drop. With rates now back on the expected upward trajectory, following a brief drop at the […]