Homebuyers see mortgage applications fall 1.6% as purchase demand rises

9 articles · Updated · CNBC · Apr 29

Total mortgage application volume dropped 1.6% last week, with purchase applications up 1% and refinance demand down 4%, according to the Mortgage Bankers Association.
The average 30-year fixed mortgage rate increased to 6.37%, while purchase applications are now 21% higher year over year and refinance demand is 51% above last year’s level.
More inventory and consumer adaptation to geopolitical uncertainty are driving demand, as markets await Federal Reserve Chair Jerome Powell’s upcoming remarks, which could further impact mortgage rates.

How will the Fed's incoming chair, Kevin Warsh, reshape the future of American mortgage rates?

Could higher mortgage rates actually be healthier for the housing market in the long run?

Are stable 6% mortgage rates the new normal, ending the era of cheap money for good?

As Mideast tensions fuel inflation, what is the Fed's breaking point for another interest rate hike?

How is the mortgage 'lock-in' effect impacting the ability of American workers to relocate for new jobs?

With over 80% of owners holding low rates, what new options can unlock home equity without refinancing?