http://www.mortgagenewsdaily.com/news MND NewsWire : Housing and Economic News https://www.mortgagenewsdaily.com/news/07022026-mortgage-applications-mba Thu, 02 Jul 2026 15:50:00 GMT 6a4689fd462b409ca05e1736 Matthew Graham Mortgage application activity was essentially unchanged last week, as a modest increase in purchase demand offset a slight decline in refinancing. The Mortgage Bankers Association (MBA) reported a 0.04% increase in total application volume on a seasonally adjusted basis for the week ending June 26. Purchase activity provided the week's modest support. The seasonally adjusted Purchase Index increased 1% from the previous week and remained 3% higher than the same week one year ago, extending a trend of stronger year-over-year demand. Refinance activity eased slightly, with the Refinance Index declining 1% from the prior week while remaining 9% above year-ago levels. “Mortgage rates eased slightly last week as oil prices declined. As a result, mortgage applications increased modestly, with an uptick in purchase activity offsetting a smaller decline in refinances,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase applications remain ahead of 2025’s pace and have exhibited year-over-year growth for almost three months, as prospective homebuyers are finding opportunities in markets with ample inventory and easing home-price growth.” The refinance share of mortgage activity edged down to 41.4% from 41.5%, while the ARM share declined to 7.6% , its lowest level since January. Government-backed application shares were mixed. FHA share decreased to 16.9% from 17.9%, while VA share increased to 12.9% from 12.3%. USDA share slipped to 0.4% from 0.5%. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/07022026-case-shiller-fhfa-home-prices-prices-apprecia Thu, 02 Jul 2026 15:40:00 GMT 6a46889cb66ce7340f1e150f Matthew Graham Home price appreciation remained subdued in April, as the latest data from both FHFA and the S&P Cotality Case-Shiller Home Price Indices continued to point to a housing market with little overall momentum. While annual price growth improved modestly from the prior month in both reports, elevated mortgage rates and ongoing affordability challenges continued to keep appreciation well below historical norms. FHFA reported that U.S. house prices declined 0.1% on a seasonally adjusted basis in April, marking the first monthly decline since last summer. March's gain was also revised higher to 0.2% . Despite the monthly pullback, national home prices were still 2.0% higher than one year earlier, a slight improvement from March's annual pace. Regional results remained highly uneven. Among the nine census divisions, monthly price changes ranged from a 1.0% increase in New England to a 0.8% decline in the Mountain division. On an annual basis, the East North Central division continued to lead with 4.4% appreciation, while the Pacific division posted the weakest annual gain at just 0.2% . The S&P Cotality Case-Shiller U.S. National Home Price Index painted a similar picture. The national index rose 0.8% year over year in April, up slightly from March's 0.7% increase. Annual gains also strengthened modestly in the major metro composites, with the 10-City Composite rising 1.8% and the 20-City Composite increasing 1.1% . Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/06262026-new-home-sales Fri, 26 Jun 2026 18:58:00 GMT 6a3ecd856c212214ed223427 Matthew Graham New home sales weakened further in May, extending the pullback seen over the past several months as elevated mortgage rates and affordability pressures continued to weigh on buyer demand. According to the latest Census Bureau and HUD data, sales of new single-family homes fell to a seasonally adjusted annual rate of 580,000 , down 7.3% from April and 6.8% from a year earlier. Inventory continued to build, with the number of new homes for sale rising to 496,000 , up 2.3% from April, though still 1.4% below May 2025 levels. At the current sales pace, that left months' supply at 10.3 months , up from 9.3 months in April and 9.7 months one year ago. Home prices moved higher in May. The median sales price increased to $424,900 , up 2.0% from April and essentially unchanged from a year earlier. Meanwhile, the average sales price rose sharply to $540,600 , a 7.8% monthly increase and 5.0% above May 2025 levels. While the chart above is potentially alarming at first glance, it's always worth remembering 2 things: 1. New Home Sales data is notoriously choppy month to month, and prone to sometimes significant revisions. 2. Existing Home Sales run at an annual pace over 4 million (compared to New Home Sales at just under 600k), and they've been trending modestly higher in the past few months.  Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/06262026-mortgage-applications-mba Fri, 26 Jun 2026 18:55:00 GMT 6a3ecbae6c212214ed223424 Matthew Graham Mortgage applications posted a modest increase last week, though overall activity remained subdued by historical standards as borrowing costs held relatively steady. The Mortgage Bankers Association (MBA) reported a 1.0% increase in total application volume on a seasonally adjusted basis for the week ending June 19. Refinance activity provided most of the support for the weekly gain. The Refinance Index increased 3% from the previous week and was 17% higher than the same period one year ago. Purchase demand slipped slightly but continued to hold above year-ago levels. The seasonally adjusted Purchase Index decreased 1% from the prior week, while remaining 3% higher than the same week in 2025. “Mortgage rates changed little over the course of last week, despite the more hawkish tone from the FOMC at its June meeting,” said Mike Fratantoni, MBA’s SVP and chief economist. “Purchase application volume edged slightly lower, while refinance activity posted modest gains. Despite the elevated mortgage rates and overall economic uncertainty, mortgage application volume is running 8 percent above year-ago levels.” Refinance share of mortgage activity increased to 41.5% from 40.3%, while the ARM share declined to 8.2% from 8.5%. Government-backed application shares were mixed. FHA share increased to 17.9% from 17.5%, while VA share decreased to 12.3% from 12.9%. USDA share rose to 0.5% from 0.4%. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/06262026-housing-starts-building-permits-new-residenti Fri, 26 Jun 2026 18:29:00 GMT 6a3eca5c7f19115eae0e9254 Matthew Graham Residential construction activity cooled in May, as housing starts and completions both moved lower while building permits edged down only slightly. Last week's Census Bureau data suggests builders are still navigating uneven demand and affordability pressures, with a sharper pullback in starts than in permits. Privately owned housing starts fell 15.4% to a seasonally adjusted annual rate of 1.177 million , down from April’s revised 1.392 million pace. Starts were also 8.7% below their May 2025 level. Single-family starts slipped 1.9% to 882k, while starts for units in buildings with five units or more dropped to 284k. While that represents the lowest level of housing starts since 2020, building permits changed very little. Total building permits fell 0.7% to an annual rate of 1.413 million , just 0.2% below the year-ago pace. Single-family permits edged 0.6% higher to 886k, while multifamily authorizations came in at 474k. Another silver lining for single-family construction is that the drop in housing starts was primarily a factor of one of the largest single month drops in multifamily housing starts... ever. This is such an aberrant spike in the data that we'd hesitate to read too much into it unless the numbers remain similarly low in coming months (especially given 2+ years of slow, steady upward movement). Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/06182026-mortgage-applications-mba Thu, 18 Jun 2026 16:25:00 GMT 6a341cc42b0e52b3f440c7ac Matthew Graham Mortgage applications pulled back last week as rates moved around in response to fresh inflation data and shifting geopolitical headlines. The Mortgage Bankers Association (MBA) reported a 3.8% decline in total application volume on a seasonally adjusted basis for the week ending June 12. Refinance activity accounted for much of the slowdown. The Refinance Index fell 5% from the previous week, though it remained 17% above the same period one year ago. Purchase demand also softened, but has generally done a better job of holding near multi-year highs. The seasonally adjusted Purchase Index decreased 3% week over week and was 3% higher than a year ago. “Last week’s CPI data showed that inflation continued to move higher, putting upward pressure on rates early in the week, but growing optimism regarding the opening of the Strait of Hormuz brought rates down again by the end of the week,” said Mike Fratantoni, MBA’s SVP and chief economist. He said the net effect was a drop in both purchase and refinance activity, with purchase applications still modestly ahead of last year’s pace and conventional purchase volume showing stronger growth than government lending. Refinance share of mortgage activity edged up to 40.3% from 40.2%, while the ARM share slipped to 8.5% from 8.6%. Government-backed application shares were mixed. FHA share increased to 17.5% from 17.4%, while VA share declined to 12.9% from 13.4%. USDA share was unchanged at 0.4% . Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/06182026-builder-confidence-nahb-hmi Thu, 18 Jun 2026 16:22:00 GMT 6a341bb12b0e52b3f440c7a9 Matthew Graham Builder sentiment slipped again in June as elevated mortgage rates, higher material costs and ongoing affordability pressures continued to weigh on the housing market. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) fell two points to 35 , marking the 14th straight month the index has remained below 40. The latest reading underscores how far confidence remains from more durable levels. A streak that long below 40 has not been seen since 2011-2012 , when the market was still dealing with the fallout from the foreclosure crisis. All three major components of the index were either lower or unchanged. Current sales conditions slipped two points to 38 , while sales expectations over the next six months held steady at 45 . Traffic of prospective buyers remained unchanged at 25 , suggesting demand is still soft despite the start of the summer selling season. “With the nation short about 1.2 million homes, builder sentiment will remain soft until barriers are eased and conditions improve for home building,” said NAHB Chairman Bill Owens. He said Congress could help by advancing the major housing package now before the Senate, along with legislation aimed at easing labor shortages and protecting access to natural gas in new homes. NAHB Chief Economist Robert Dietz said regulatory and policy costs continue to make it harder for builders to add supply. He pointed to a new NAHB study showing that government regulation, taxes, fees and other costs add more than 26% to the price of an average single-family home, arguing that easing permitting delays, density limits and zoning restrictions would help reduce costs. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/06122026-mortgage-applications-mba Fri, 12 Jun 2026 18:45:00 GMT 6a2c54cb157044030467e536 Matthew Graham Mortgage applications bounced higher last week after the holiday-shortened period, though the increase largely reflected a normalization in activity rather than a meaningful improvement in underlying demand. The Mortgage Bankers Association (MBA) reported a 10.8% increase in total application volume on a seasonally adjusted basis for the week ending June 5. The gain was led by refinance activity, which rose 15% from the previous week. Refinance demand was also 20% higher than the same period one year ago, showing that activity remains well ahead of last year’s pace despite continued rate volatility. Purchase demand also moved higher. The seasonally adjusted Purchase Index increased 7% week over week and was 4% above year-ago levels. The average 30-year fixed mortgage rate rose to 6.60% from 6.57%, but borrowers still found pockets of opportunity as markets continued to react to developments in the Middle East. MBA’s Mike Fratantoni said mortgage rates were volatile last week, noting that “while the average rate was up slightly,” both refinance and purchase applications rebounded following the holiday week. Fratantoni added that the 30-year fixed rate now stands at 6.60%, while refinance and purchase activity each recovered from the prior week’s holiday-affected pace. Adjustable-rate mortgage activity also edged higher. The ARM index increased 12% over the week, and ARM share rose to 8.6% from 8.5%. Meanwhile, the refinance share of mortgage activity climbed to 40.2% from 38.0%. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/06122026-existing-home-sales-nar-inventory-prices-appr Fri, 12 Jun 2026 18:25:00 GMT 6a2c506c324dc8494117df97 Matthew Graham Existing-home sales picked up in May, rising to their highest level since December as improving affordability and steady household income gains continued to support demand. Sales increased 3.2% from April to a seasonally adjusted annual rate of 4.17 million , and were also 3.2% higher than a year ago. “More Americans are on the move,” said NAR Chief Economist Lawrence Yun, noting that sales reached their strongest pace since December. He said improving affordability is helping drive the momentum, adding that mortgage rates remain below last year’s level and are roughly in line with the long-term historical average. Inventory continued to improve in May, though supply remains relatively tight by historical standards. Total housing inventory rose to 1.55 million units , up 3.3% from April and 0.6% from a year earlier, representing a 4.5-month supply of homes. Home prices pushed to a fresh record high in May, underscoring still-solid demand against a backdrop of limited supply. The median existing-home price climbed to $429,300 , up 1.3% from a year ago and marking the 35th consecutive month of annual price gains. Affordability also improved year-over-year, with the Housing Affordability Index rising to 105.6 from 97.5 a year earlier. Yun said income gains are still outpacing home-price growth in most parts of the country, helping keep buyers in the market despite rates ticking up from earlier this year. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/06052026-mortgage-applications-mba Fri, 05 Jun 2026 18:25:00 GMT 6a231508937f0b84f639b529 Matthew Graham Mortgage applications eased again last week even as borrowing costs moved lower, suggesting that modest rate relief was not enough to bring borrowers back in force. The Mortgage Bankers Association (MBA) reported a 2.5% decrease in total application volume on a seasonally adjusted basis for the week ending May 29. The decline was led by refinance activity, which slipped 2% from the previous week. Refinance demand remained 20% higher than the same period one year ago, however, underscoring that activity is still running above 2025’s pace even as it softens week to week. Purchase demand also pulled back, though the move was more modest. The seasonally adjusted Purchase Index fell 3% week over week and was still 7% above year-ago levels. The average 30-year fixed mortgage rate decreased to 6.57% from 6.65%, but the drop was not enough to spark a meaningful pickup in demand. MBA’s Joel Kan said easing energy prices tied to developments in the Middle East helped push rates slightly lower, though “the retreat in rates... did not lead to an increase in mortgage applications.” Kan added that purchase applications were still ahead of last year’s pace, but were at their slowest weekly level since April, while refinance activity was at its weakest since last June. He also noted that the 30-year fixed rate eased to 6.57%, while the 5-year ARM rate edged higher, reflecting a flattening yield curve. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news