MBA Mortgage Applications inch higher amid wider drop in mortgage rates

Aug. 03, 2022 7:15 AM ETBy: Khyathi Dalal, SA News Editor
  • MBA Mortgage Applications
  • Composite Index: 1.2% vs. -1.8% prior
  • Purchase Index: 1% vs. -0.8% prior
  • Refinance Index: 1.5% vs. -3.7% prior
  • 30-year mortgage rate at 5.43% vs. 5.74% in prior week
  • "Mortgage rates declined last week following another announcement of tighter monetary policy from the Federal Reserve, with the likelihood of more rate hikes to come. Treasury yields dropped as a result, as investors continue to expect a weaker macroeconomic environment in the coming months," MBA's AVP economic and industry forecasting Joel Kan commented.
  • According to the NAHB’s Housing Trends Report, after declining for five straight quarters, the share of buyers seeing more homes available for sale rose to 28% in Q2.
  • Share of prospective buyers who expect the home search to get easier in the months ahead rose, increased to 22%, first time since 2020.

Recommended For You

Comments

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.