On an unadjusted basis, the index decreased 5% compared with the previous week. The refinance index also decreased 5% from the previous week and was 27% higher than the same week one year ago. The refinance share of mortgage activity increased to 36.6% of total applications from 36.4% the previous week. The adjustable-rate mortgage (ARM)
In the short term, two other factors are likely to influence mortgage rates, which have remained above 6.5% for 30-year loans since October. The first is President Donald Trump’s deal with China to lower tariffs between the two countries for 90 days. This could provide interim relief to homebuilders as tariffs on construction materials were
“I think the last few years have paid off for us. First off, we grew 60% last year,” Arvielo said. “So I think the consolidation of loan originators is part of it. I think the move-up buyer is driving the market, meaning a former first-time home buyer [who] now has a significant amount of equity.”
On an unadjusted basis, the index decreased 4% compared with the previous week. The refinance index decreased 4% from the previous week and was 42% higher than the same week one year ago. The refinance share of mortgage activity remained unchanged at 37.3% of total applications from the previous week. “Refinance activity dipped again, as
The Market Composite Index, which measures mortgage loan application volume, decreased 6.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 6% from last week. The refinance index decreased 13% from the previous week, but was 70% higher than the same week one year ago. The seasonally adjusted