Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Mortgage demand slides further, even as interest rates pull back slightly

by
May 25, 2022
in Latest News
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

FDA approves Pfizer RSV vaccine for older adults

Stocks making the biggest moves after hours: C3.ai, Nordstrom, Salesforce, CrowdStrike and more

A for sale sign is posted in front of a home that is listed for over $1 million on April 29, 2022 in San Francisco, California.
Justin Sullivan | Getty Images

Mortgage rates turned lower for the second straight week, but it wasn’t enough to boost demand for either new purchase loans or refinances, according to a weekly report from the Mortgage Bankers Association.

Rates are still much higher than they were for the past two years. Last week the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.46% from 5.49%, with points dropping to 0.60 from 0.74 (including the origination fee) for loans with a 20% down payment.

Applications to refinance a home loan dropped 2% for the week and were 75% lower than the same week one year ago.

“Most refinance borrowers continue to remain on the sidelines as a result, and refinance applications have fallen in nine of the past 10 weeks. Compared to January 2022, refinance activity is down 66%,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

Homebuyers are also pulling back. Applications for a mortgage to purchase a home were flat week to week and down 16% from a year ago.

More supply is coming on the market, but homes are suddenly sitting longer for sale.

Mortgage demand from homebuyers is now close to the lows last seen in spring 2020, at the start of the Covid pandemic. Homebuying quickly picked up after that, and frenzied demand pushed prices higher at an astounding rate over the past two years.

Now those high prices are sidelining potential buyers, especially people seeking to purchase their first home.

ShareTweetPin

Related Posts

FDA approves Pfizer RSV vaccine for older adults

by
June 1, 2023
0

Luis Alvarez | Digitalvision | Getty Images The Food and Drug Administration on Wednesday approved a vaccine made by Pfizer...

Stocks making the biggest moves after hours: C3.ai, Nordstrom, Salesforce, CrowdStrike and more

by
June 1, 2023
0

In this article CRWDOKTACRMAICHWYPSTGJWN Follow your favorite stocksCREATE FREE ACCOUNT Customers walk through a shopping mall along the Magnificent Mile...

Amazon workers walk out over ‘lack of trust’ in leadership

by
June 1, 2023
0

In this article AMZN Follow your favorite stocksCREATE FREE ACCOUNT Amazon workers gather for a rally during a walkout event...

Southeast Asia’s digital economy may be set to hit $1 trillion, but roadblocks remain

by
June 1, 2023
0

ASEAN has a high internet penetration rate of over 70%. Carlina Teteris | Moment | Getty Images Southeast Asia's digital...

These 2 stocks have raised dividends above the inflation rate every year — for 40 years

by
June 1, 2023
0

Two U.S.-listed companies, Air Products & Chemicals , and Automatic Data Processing , are the only stocks worldwide to have...

Next Post

UK investigation into Covid lockdown parties says senior leadership 'must bear responsibility'

Home services stock Porch Group could nearly triple from current levels, Compass Point says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com