#mortgage-applications

#mortgage-applications

"The combination of the ongoing conflict in the Middle East, current economic conditions, and last week's FOMC meeting resulted in slightly lower Treasury rates. However, mortgage rates still edged higher but remained in the same narrow range, with the 30-year fixed rate increasing to 6.88 percent last week," says Joel Kan, MBA's vice president and deputy chief economist.

Part of the disconnect is sheer practicality. By the time a borrower is ready to apply for a mortgage, they've already gathered personal documentation.

With high mortgage rates and home prices, lenders are scrutinizing borrowers with increased intensity.