US Home Sales Drop, Drop, Drop Despite Lower Mortgage Rates. But Mortgage Applications Jump. What Gives?

Today, the Mortgage Bankers Association (MBA) reported that its purchase mortgage index – which tracks applications (not approvals) for conventional and government mortgages to purchase a single-family house – fell 6% from the prior week and was down 5% from the same week last year – despite falling mortgage rates, which should have cranked up home buying and mortgage activity. It was the fourth week in a row of drops:

Next article US Home Sales Drop, Drop, Drop Despite Lower Mortgage Rates. But Mortgage Applications Jump. What Gives?. Drop, Drop Despite Lower Mortgage Rates. But Mortgage Applications Jump. What Gives? RELATED ARTICLES MORE FROM AUTHOR.

Mortgage rates skyrocketed. form of higher upfront costs or lower lender credit. Either way, it was a big, bad move. So why did rates spike so much? The simple answer is that this morning’s.

GET.com Mortgages New Home Sales Increase As Mortgage Rates Drop New Home Sales Increase As Mortgage Rates Drop This week mortgage applications decreased 4.1% compared to last week while new home sales have increased this August to the highest levels since May 2008.

US mortgage rate drop could cause spike in home sales. It’s the first time rates have dropped below 4 percent since November. A week earlier, the rate was 4.08 percent and in mid-March it was 4.3 percent, according to the journal. mortgage rates jumped following Donald Trump’s presidential win, after hovering slightly above 3.5 percent for.

Sales of existing homes – single-family houses, townhouses, condos, and co-ops – in April ticked down from March and fell 4.4% from April last year, to a seasonally adjusted annual rate of 5.19 million homes, according to the National Association of Realtors, after having dropped 5.4% year-over-year in March, 2.3% in February, 8.7% in January, and 10.1% in December.

US New Home Sales at 8-Month Low. Sales of new single-family houses in the United States declined 5.3 percent from the previous month to a seasonally adjusted annual rate of 631 thousand in June of 2018, following a downwardly revised 3.9 percent gain in May.

The Ultimate Truth about Housing Affordability The Ultimate Truth about Housing Affordability There have been many headlines decrying an "affordability crisis" in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means.Virgin Money strategy director Peter Rogerson to retire – exclusive – Mortgage Solutions Virgin Money has relaunched some of its range of residential and buy-to-let mortgage mortgages. The new residential range includes a 1.38 per cent two-year fixed rate, at 65 per cent LTV, now 1.28 per cent. It also incorporates a two-year loan at 1.52 per cent (previously 1.64 per cent) at 85 per cent LTV.

These are mortgage applications by potential homebuyers to buy a home, rather than mortgage applications by homeowners to refinance an existing mortgage. Purchase-mortgage applications started rising on a year-over-year basis in January, as would be expected, given the lower mortgage rates.

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