After a muddling 2022, refinance applications soared 10% week-over-week. This showed signs of life in the mortgage industry.
Latest mortgage market seemed to finally calm after several weeks of extreme volatility due to concerns about the banking sector.
The latest real estate data shows the United States in desperate need of new housing inventory as existing homes fell in December.
While this week showed little major news, the ISM national services index demonstrated unexpected gains in November 2022.
As mortgage rates reached their highest rates in over twenty years, September existing home sales fell for the eighth straight month.
With the August 2022 CPI report, investors fully understand the driving force behind climbing mortgage rates.
After months of upward momentum, July 2022 mortgage markets finally reflected reduced inflationary pressures.
In recent months, high inflation (and higher mortgage rates) took a large toll on mortgage application volumes.