15 December 2022 | Other

Applications for home purchases in the U.S. are rising as mortgage rates remain stable

Loan costs are stable at their lowest level in nearly three months. This caused the increase in U.S. home purchase applications last week, and the upward trend renewed.

On Wednesday, data was published showing the Mortgage Bankers Association Buying Index rise by 4% during the week ending on December 9. Because of the decline in mortgage rates, the index is rising for five weeks out of the last six.

At the end of October, the contract rate on 30-year fixed mortgages decreased after reaching a more than two-year high of 7.16%. Last week, it rose by 1 basis point to 6.42%. For most of this year, the real estate market has been experiencing regression. As mortgage rates fall, it may stabilize.

The refinancing activity index increased. The overall MBA mortgage application rate, including refinances, reached its highest level since the middle of September. It rose by 3.2%.

Company MarketCheese
Gold sell
Period: 31.10.2026 Expectation: 4000 pips
Go short on gold with $4,300 in mind
Today at 04:54 AM 15
Period: 31.10.2026 Expectation: 100 pips
Buy Brent crude upon breaking $104.60
Today at 04:54 AM 15
Period: 02.11.2026 Expectation: 1700 pips
GBPUSD sell-off targets 1.3200
22 September 2026 31
Period: 31.10.2026 Expectation: 300 pips
Buying AUDCAD with 1.0000 in sight
21 September 2026 34
Period: 31.10.2026 Expectation: 700 pips
Invest in USDJPY up to 157.70
21 September 2026 31
Gold sell
Period: 31.10.2026 Expectation: 3000 pips
Gold sell-off targets $4,000
18 September 2026 53
Go to forecasts