In 2020 and 2021, housing boomed and rates plummeted at a pace that many considered to be unsustainable. 2022’s role is to take things back in the other direction. In other words, things are “normalizing” after a period of frenzied movement. The normalization process can seem scary in cases where the…
The volume of mortgage application submitted during the week ended April 29 ended a seven-week slide. The Mortgage Bankers Association (MBA) said purchase applications were substantially higher than the prior week while refinance applications held their own. MBA’s Market Composite Index, a measure of application volume, increased 2.5 percent on…