Market Update

Home Prices Rise, Mortgage Applications Dip

Home Prices Rise, Mortgage Applications Dip

Mortgage applications decreased for the third straight week – this time down 2.5%, according to the latest report from the Mortgage Bankers Association, as reported by HousingWire.

Refinance activity dropped to its slowest pace since September 2020 – down a full 5% – with declines in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. He added that mortgage rates have moved higher in tandem with Treasury yields.

Continue reading Home Prices Rise, Mortgage Applications Dip at Movement Mortgage Blog.

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