Mortgage Applications Up Slightly

Mortgage applications increased slightly for the week, even as mortgage rates climbed, according to a report released Wednesday by the Mortgage Bankers Association. Overall, applications increased by a slim 0.5 percent for the week ending February 26. The Refinance Index increased 0.1 percent and was 7 percent higher than the same week one year ago, while the unadjusted Purchase Index increased 5 percent for the week and was 1 percent higher than the same week one year ago.  The refinance share of mortgage activity decreased to 67.5 percent of total applications from 68.5 percent the previous week. The adjustable-rate mortgage share of activity increased to 2.9 percent of total applications.    “The housing market is entering the busy spring buying season…

Rates, Weather Tamp Down Mortgage Activity

Mortgage applications tumbled more than 11 percent last week amid higher interest rates and severe winter weather in parts of the country, according to a report released Wednesday by the Mortgage Bankers Association. The weekly survey found overall applications were down 11.4 percent for the week ending February 19, while refinances were down 11 percent for the week and up 50 percent over a year ago. Purchase applications were down 8 percent and up 7 percent from last year. The refinance share of mortgage activity decreased to 68.5 percent of total applications from 69.3 percent the previous week. The adjustable-rate mortgage share of activity increased to 2.7 percent of total applications. “Mortgage rates have increased in six of the last…

Mortgage Applications Dip In Mid-February

Mortgage applications declined 5.1 percent for the week ending February 12, according to the weekly report released Wednesday by the Mortgage Bankers Association. The survey found the Refinance Index dropped 5 percent from the previous week while remaining 51 percent higher than the same week a year ago. The Purchase Index decreased 1 percent and was 15 percent higher than the same week last year. The refinance share of mortgage activity decreased to 69.3 percent of total applications from 70.2 percent the previous week. The adjustable-rate mortgage share of activity increased to 2.4 percent of total applications.   “Expectations of faster economic growth and inflation continue to push Treasury yields and mortgage rates higher. Since hitting a survey low in December,…

Weekly Mortgage Applications Decrease

Mortgage applications in the United States slipped last week, though remained significantly higher than a year ago, according to a report released Wednesday by the Mortgage Bankers Association. The report found that applications were down 4.1 percent overall for the week ending February 5. The Refinance Index was down 4 percent for the week – and up 46 percent from a year earlier. Purchase applications increased 2 percent for the week and 17 percent for the year. The refinance share of mortgage activity decreased to 70.2 percent of total applications from 71.4 percent the previous week. The adjustable-rate mortgage share of activity increased to 2.3 percent of total applications. “Purchase applications cooled the first week of February, but homebuyers are…

Mortgage Applications Jump

Mortgage applications in the United States surged 8.1 percent the last week of January from a week earlier, according to a report released Wednesday by the Mortgage Bankers Association. The Refinance Index increased 11 percent for the week and was 59 percent higher than last year at the same time, while the Purchase Index increased 8 percent for the week and 16 percent for the year. The refinance share of mortgage activity increased to 71.4 percent of total applications from 70.7 percent the previous week. The adjustable-rate mortgage share of activity remained unchanged at 2.2 percent of total applications. “After increasing for three consecutive weeks, the 30-year fixed mortgage rate dropped 3 basis points to 2.92 percent. The one-week reversal…

Mortgage Applications Down 4% For Week

Mortgage applications tumbled 4.1 percent for the week ending January 22 in the Mortgage Bankers Association’s weekly survey released Wednesday. The Refinance Index decreased 5 percent, while remaining 83 percent higher than a year ago. The unadjusted Purchase Index increased 3 percent for the week and was 16 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 70.7 percent of total applications from 72.3 percent the previous week. The adjustable-rate mortgage share of activity increased to 2.2 percent of total applications. “Mortgage rates were mixed last week, with the 30-year fixed rate rising to its highest level since November 2020 at 2.95 percent, and all other rates in the survey posting a…

Mortgage Applications Dip Amid Higher Rates

Mortgage applications decreased slightly last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey released Wednesday. Applications decreased 1.9 percent for the week. Refinances decreased by 5 percent from the previous week but were 87 percent higher than the same week a year ago. Purchase applications increased 9 percent over the previous week and was 15 percent higher than last year. The refinance share of mortgage activity decreased to 72.3 percent of total applications from 74.8 percent the previous week. The adjustable-rate mortgage share of activity increased to 2.1 percent of total applications. “Purchase applications remained strong based on current housing demand, rising over the week and up a noteworthy 15 percent from last year,” said Joel Kan,…

Mortgage Applications Surge To Start New Year

Mortgage applications jumped 16.7 percent during the first week of 2021 to their highest levels since March, according to the latest report released Wednesday by the Mortgage Bankers Association. The report found that the Refinance Index increased from 20 percent from the previous week and was 93 percent higher than the same week in 2020. The unadjusted Purchase Index was 60 percent higher last week and 10 percent higher than a year ago. The refinance share of mortgage activity increased to 74.8 percent of total applications from 73.5 percent the previous week. The adjustable-rate mortgage share of activity decreased to 1.6 percent of total applications.   “Booming refinance activity in the first full week of 2021 caused mortgage applications to surge…

Weekly Mortgage Apps Up 3% Over Last Year

Mortgage applications closed 2020 slightly lower than mid-December, according to the latest weekly survey released Wednesday by the Mortgage Bankers Association. Overall, applications were down 4.2 percent from two weeks earlier – with the Refinance Index down 34 percent and the Purchase Index down 0.8 percent. Year over year, however, refinances were up 100 percent from this time last year while purchases were up 3 percent. The FHA share of total applications remained unchanged from 10.1 percent. The VA share of total applications increased to 13.6 percent from 12.1 percent and the USDA share of total applications increased to 0.4 percent from 0.3 percent. “The steady demand for home buying throughout most of 2020 should continue in 2021,” said Joel…

Mortgage Applications Edge Slightly Higher

Mortgage applications in the United States held largely steady last week, increasing 0.8 percent from the week before, according to a new report released Wednesday by the Mortgage Bankers Association. The Refinance Index increased 4 percent for the week ending December 18 and was 124 percent higher than the same week one year ago. The unadjusted Purchase Index decreased 7 percent compared with the previous week and was 26 percent higher than last year. The refinance share of mortgage activity increased to 74.8 percent of total applications from 72.7 percent the previous week. The adjustable-rate mortgage share of activity increased to 1.9 percent of total applications.   “There are still signs of relative strength in the housing market as 2020 ends,”…