Mortgage rates ticked up last week as economic data revealed a still-growing economy, forcing applications down slightly. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — shrank by 1.3%, reversing from the week prior’s 11% jump. Mortgage rates increased marginally to 6.14%…
Mortgage applications soared to a two-year high, driven by the ongoing refinance boom. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 11%. Adjusted purchase applications rose by 1%, while the unadjusted index increased by 0.4% and was 2% higher…
Mortgage applications continued their ascent last week as purchase activity ticked up, but refinances may be hitting their ceiling. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — increased by 1.4%, close to the week prior’s 1.6%. This week’s results include an…
Mortgage applications rose again last week as government purchase activity made up for retreating refinances. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — increased by 1.6%, slightly better than the week prior’s 0.5%. Adjusted purchase applications rose by 3%, while the…
By ERIN FLYNN JAY Delinquencies are up as Americans feel the pain of continued inflation and other stresses on the economy. The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.97% at the end of the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey….
Mortgage applications ticked up last week as rates continued to cool, but many Americans are taking a “wait and see” approach to the market. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — increased by 0.5%. Adjusted purchase applications rose by 1%,…
Mortgage applications moderated last week as homeowners pulled back in refinancing. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — fell by 10.1%, cutting into a 16.8% increase the week prior. Adjusted purchase applications fell by 5%, while the unadjusted index was…
Independent mortgage banks showed net production profits for the first time in two years last quarter. IMBs and mortgage subsidiaries of chartered banks reported a pre-tax net profit of $693 on each loan they originated in Q2 2024, up from a loss of $645 per loan in the first quarter. That’s according to the Mortgage Bankers…
Mortgage applications soared last week as weakening rates encouraged an explosion of refinances, plus slightly better purchase activity. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — jumped by 16.8%, adding to a 6.9% increase the week prior. Adjusted purchase applications rose…
Mortgage applications slipped further last week as refinances stalled after a brief boost. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — fell by 3.9%, adding to a 2.2% dip the week prior. Adjusted purchase applications decreased by 2%, while the unadjusted…
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