Bankers lower their mortgage demand outlook for the year as rising rates hurt affordability
Bankers lower their mortgage demand outlook for the year as rising rates hurt affordability
Rising rates are causing a drop in home loan demand, so mortgage bankers are lowering their forecast for the year.
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Rising rates are causing a drop in home loan demand, so mortgage bankers are lowering their forecast for the year.
Rising rates are causing a drop in home loan demand, so mortgage bankers are lowering their forecast for the year.
CNBC's Diana Olick joins 'Squawk Box' to break down the latest data from the Mortgage Bankers Association.
CNBC's Diana Olick joins 'Squawk Box' to break down the latest data from the Mortgage Bankers Association.
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.
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.
CNBC's Diana Olick joins 'Squawk Box' to break down the latest mortgage rate and application data from the Mortgage Bankers Association.
CNBC's Diana Olick joins 'Squawk Box' to break down the latest mortgage rate and application data from the Mortgage Bankers Association.
Weakening affordability is causing sellers to get more realistic about their asking prices. There are also more listings coming on the market.
Weakening affordability is causing sellers to get more realistic about their asking prices. There are also more listings coming on the market.
And preliminary data from the trade group indicates that mortgage lenders saw an 87% drop in basis points earned per loan in Q1 as costs reached an all-time high.
And preliminary data from the trade group indicates that mortgage lenders saw an 87% drop in basis points earned per loan in Q1 as costs reached an all-time high.
After rising steadily for three weeks, mortgage rates dipped slightly last week, prompting a small increase in refinance activity. Activity from homebuyers, however, pulled back further, leaving total mortgage demand basically flat from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.84% from 5.98%, with points decreasin...
After rising steadily for three weeks, mortgage rates dipped slightly last week, prompting a small increase in refinance activity. Activity from homebuyers, however, pulled back further, leaving total mortgage demand basically flat from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.84% from 5.98%, with points decreasin...
The numbers:ย Construction of new houses fell slightly in April for the second month in a row, suggesting that rising mortgage rates, record home prices and the high cost of building materials are starting to bite. Housing starts dipped 0.2 % to an annual pace of 1.72 million. Thatโs how many homes would be built in 2022 if construction took place at same rate over the entire year as it did in April. Economists polled by MarketWatch had expected housing starts to register a 1.75 million rate a...
The numbers:ย Construction of new houses fell slightly in April for the second month in a row, suggesting that rising mortgage rates, record home prices and the high cost of building materials are starting to bite. Housing starts dipped 0.2 % to an annual pace of 1.72 million. Thatโs how many homes would be built in 2022 if construction took place at same rate over the entire year as it did in April. Economists polled by MarketWatch had expected housing starts to register a 1.75 million rate a...
CNBC's Diana Olick joins 'Squawk Box' to break down the latest batch of weekly mortgage application data.
CNBC's Diana Olick joins 'Squawk Box' to break down the latest batch of weekly mortgage application data.