http://www.mortgagenewsdaily.com/news MND NewsWire : Housing and Economic 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 https://www.mortgagenewsdaily.com/news/05292026-new-home-sales Fri, 29 May 2026 17:27:00 GMT 6a19cdac1b1e08268fb58a89 Matthew Graham New home sales pulled back in April after stronger readings in the prior two months. According to the latest Census Bureau and HUD data, sales of new single-family homes fell to a seasonally adjusted annual rate of 622,000 , down 6.2% from March and 11.3% from a year earlier. Inventory moved slightly higher, with the number of new homes for sale rising to 489,000 , up 1.7% from March but still 2.2% below April 2025 levels. At the current sales pace, that left months’ supply at 9.4 months , up from 8.7 months in March and 8.6 months one year ago. Pricing was mixed. The median sales price climbed to $422,500 , up 8.0% from March and 2.2% from a year earlier. The average sales price ticked up to $508,800 , a modest 0.7% monthly gain, though it remained 1.1% below last year’s level. Sales (MoM): -6.2% Sales (YoY): -11.3% Inventory (MoM): +1.7% Inventory (YoY): -2.2% Months’ Supply: 9.4 (up from 8.7 prior month; 8.6 YoY) Median Price: $422,500 Average Price: $508,800 Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/05292026-mortgage-applications-mba Fri, 29 May 2026 17:20:00 GMT 6a19cbedc233a913129eba62 Matthew Graham Mortgage applications fell sharply last week as higher borrowing costs continued to pressure refinance demand, while purchase activity showed a bit more resilience. The Mortgage Bankers Association (MBA) reported an 8.5% decrease in total application volume on a seasonally adjusted basis for the week ending May 22. The decline was driven largely by a steep drop in refinance activity. The Refinance Index fell 18% from the previous week, though refinance demand remained 19% higher than the same period one year ago. Purchase activity held relatively steady despite the rate environment. The seasonally adjusted Purchase Index slipped just 0.4% week over week and remained 5% above year-ago levels. The average 30-year fixed mortgage rate increased to 6.65% from 6.56%, reaching its highest level since August 2025. MBA’s Joel Kan notes the steady climb in rates over the past five weeks pushed many borrowers out of the refinance market. Additionally, Kan said refinance activity weakened across nearly every category last week, noting that “conventional refinances were down 14 percent, along with an 18 percent decrease for FHA applications and a 34 percent decrease for VA applications.” He added that refinances accounted for just 37.5% of total mortgage activity, “the lowest share since June 2025.” Looking ahead to next week's data, it wouldn't be a surprise to see a rebound given the relatively strong recovery in mortgage rates (now at their lowest daily levels in more than 2 weeks). Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/05292026-case-shiller-fhfa-home-prices-prices-apprecia Fri, 29 May 2026 16:25:00 GMT 6a19c8ef1b1e08268fb58a83 Matthew Graham Home price appreciation slowed further in March and through the first quarter of 2026, according to the latest data from both FHFA and the S&P Cotality Case-Shiller Home Price Indices. While national prices continued to edge higher on a nominal basis, both reports pointed to a housing market struggling to maintain momentum as affordability pressures and elevated mortgage rates continued to weigh on demand. FHFA reported that U.S. house prices rose 1.7% year-over-year in the first quarter of 2026, matching the prior quarter’s annual pace. On a quarterly basis, prices increased 0.5% from Q4 2025, while the agency’s seasonally adjusted monthly index posted a modest 0.1% gain in March from February. Regional FHFA data continued to show a sharply divided housing market. Seven of the nine census divisions posted annual price gains, led by the East North Central division at +4.4% . By contrast, the West South Central division recorded a 0.7% decline . At the state level, Illinois led annual appreciation at 7.3% , while Colorado posted the steepest decline at -2.4% . Metro-level results reflected similar divergence. FHFA said home prices increased in 65 of the 100 largest metropolitan areas over the past year, with Elgin, Illinois posting the strongest appreciation at 10.8% . Meanwhile, Austin-Round Rock-San Marcos, Texas recorded the largest decline at -6.9% , underscoring ongoing softness across portions of the Sun Belt. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/05222026-housing-starts-building-permits-new-residenti Fri, 22 May 2026 16:36:00 GMT 6a1088466c66730f23ae9409 Matthew Graham Residential construction activity was mixed again in April, as building permits rebounded while housing starts pulled back modestly from March’s stronger pace. The latest Census Bureau data continues to reflect a construction sector navigating uneven demand and affordability pressures. Privately owned housing starts fell 2.8% to a seasonally adjusted annual rate of 1.465 million , down from March’s revised 1.507 million pace. Despite the monthly decline, starts were still 4.6% higher than April 2025 levels. Single-family starts dropped 9.0% to 930k, while multifamily starts (buildings with five units or more) increased to 529k. On the permitting side, activity recovered after March’s sharp decline. Total building permits rose 5.8% to an annual rate of 1.442 million , though that was still 0.2% below year-ago levels. Single-family permits declined 2.6% to 872k, while multifamily authorizations climbed to 514k. As is often the case with this data series, month-to-month swings can exaggerate the underlying trend. More broadly, residential construction activity has remained relatively stable over the past year, with builders continuing to balance elevated financing costs, affordability challenges, and uneven buyer demand. In fact, if we smooth the data with a simple 3-month moving average, it's easier to see a decent little rebound from the long term lows last Fall. In this light, housing starts are the strongest they've been since early 2024. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news https://www.mortgagenewsdaily.com/news/05222026-mortgage-applications-mba Fri, 22 May 2026 16:31:00 GMT 6a1085d36d63f14998d72405 Matthew Graham Mortgage applications pulled back last week as rising rates weighed on homebuyer demand, while refinance activity remained largely flat. The Mortgage Bankers Association (MBA) reported a 2.3% decrease in total application volume on a seasonally adjusted basis for the week ending May 15. The decline was driven primarily by softer purchase activity. The seasonally adjusted Purchase Index fell 4% from the prior week, though purchase demand remained 8% higher than the same week one year ago. Refinance activity was mostly unchanged despite the rise in rates. The Refinance Index dipped just 0.1% week over week but remained 35% above year-ago levels. The average 30-year fixed mortgage rate increased to 6.56% from 6.46%, reaching its highest level in seven weeks. According to MBA, concerns surrounding inflation, higher fuel costs, and growing worries over global public debt helped push Treasury yields — and mortgage rates — higher during the week. MBA’s Joel Kan said, " Overall applications were down to the lowest level in five weeks as purchase borrowers pulled back across conventional and government loan types. Refinance applications were essentially unchanged, with a decline in government refinances and an increase in conventional refinancing, likely as the increase in rates came late in the week. " Kan also noted that adjustable-rate mortgages gained traction as borrowers looked for lower-rate alternatives. ARM loans accounted for nearly 10% of total applications, the highest share since October 2025, with the average ARM rate sitting roughly 80 basis points below the 30-year fixed rate. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/news