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Will mortgage rates drop further by September 30, 2024?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
Mortgage Bankers Association weekly reports
Story
U.S. Mortgage Applications Surge 15.6%, Highest Since Sept 2022
Jun 12, 2024, 12:16 PM
U.S. mortgage applications saw a significant increase in the week ending June 7, 2024, rising 15.6% according to the Mortgage Bankers Association. This surge, which marked the highest level since September 2022, was driven by a 5 basis points drop in mortgage rates. Applications for purchases increased by 8.6% while refinancing applications jumped by 28.4%. Despite this rise, the unadjusted data remained relatively unchanged compared to pre-COVID averages for the first week of June.
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Increase significantly • 25%
Increase slightly • 25%
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Decrease • 25%
Below 7% • 25%
7% to 7.5% • 25%
7.5% to 8% • 25%
Above 8% • 25%
Yes • 50%
No • 50%
Increase in interest rates • 25%
Decrease in interest rates • 25%
No change in interest rates • 25%
Introduction of new monetary policy • 25%
Increase Fed Funds Rate • 33%
Decrease Fed Funds Rate • 33%
No Change in Fed Funds Rate • 33%