Mortgage Applications Increased 11% From Preceding Week, Fed Will Remain On Hold (Purchase Apps Up 12%)

#bubble, #inflation, Banking, CMBS, CRE, Credit, Currency, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, GDP, Housing, Mortgage, New Home Sales, Powell, REITs, Treasuries, Treasury, Uncategorized, Wages, Yellen, Yield Curve 1 Minute

The Fed can help, but won’t. We are still struggling to recover from Biden’s cockeyed management of the economy,

Mortgage applications increased 11.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 2, 2025.

The Market Composite Index, a measure of mortgage loan application volume, increased 11.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 12 percent compared with the previous week.  The seasonally adjusted Purchase Index increased 11 percent from one week earlier. The unadjusted Purchase Index increased 12 percent compared with the previous week and was 13 percent higher than the same week one year ago.

The Refinance Index increased 11 percent from the previous week and was 51 percent higher than the same week one year ago.

The economic news last week included a negative reading for first-quarter GDP growth and further signs of contraction in the manufacturing sector, mixed with a solid employment report for April. The net impact on mortgage rates was mostly downward but just back to levels from early April. The 30-year fixed rate declined to 6.84 percent.

But there will be no rate cuts today from The Fed.

Unknown's avatar

Published by confoundedinterest17

Published