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,”…

Mortgage Purchase Applications Surge In Nov

Mortgage applications for new home purchases in November jumped by 34.7 percent over a year ago, according to a report released by the Mortgage Bankers Association. For the month, purchase applications dropped by 16 percent from October, MBA said. “November new home sales activity, both mortgage applications and home sales, ran at a pace considerably ahead of 2019, showing the ongoing strong growth in housing demand and new residential construction,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “However, MBA estimates that after climbing to a new survey high in October, the seasonally adjusted pace of new home sales declined in November. Signs of a slowdown in the economic recovery likely contributed to the expected monthly…

Mortgage Applications Dip After Holiday

Mortgage applications dropped slightly last week, while remaining significantly higher than 2019 levels, according to a report released Wednesday by the Mortgage Bankers Association. For the week ending December 4, applications overall decreased 1.2 percent. The Refinance Index increased 2 percent for the week and was 89 percent higher than a year ago, while the Purchase Index decreased 5 percent – and was 22 percent higher than the same week a year ago. The refinance share of mortgage activity increased to 72 percent of total applications from 69.5 percent the previous week. The adjustable-rate mortgage share of activity decreased to 1.7 percent of total applications. “Refinance activity increased last week in response to mortgage rates for 30-year, 15-year, and FHA…

Mortgage Applications Show Mixed Bag

Mortgage applications decreased slightly Thanksgiving week, once adjustments are made for the long holiday weekend, according to the Mortgage Bankers Association’s weekly report released Wednesday. Overall, applications for the week dropped 0.6 percent on an adjusted basis but down 32 percent on an unadjusted basis. The Refinance Index decreased 5 percent from the previous week and was 102 percent higher than the same week one year ago. Seasonally adjusted purchases increased 9 percent from one week earlier. Unadjusted purchases decreased 28 percent compared with the previous week and was 28 percent higher than the same week one year ago.  The refinance share of mortgage activity decreased to 69.5 percent of total applications from 71.1 percent the previous week. The adjustable-rate…

Driven By Refis, Mortgage Applications Increase

Mortgage applications increased last week amid record-low interest rates and high demand for a limited number of homes on the market, the Mortgage Bankers Association announced Wednesday. MBA’s weekly survey found that applications overall increased 3.9 percent, with refinances up 5 percent for the week and 79 percent over a year ago. Purchase applications declined 2 percent and were up 19 percent over the same period of 2019. “Amidst strong competition for a limited supply of homes for sale, as well as rapidly increasing home prices, purchase applications increased for both conventional and government borrowers,” said Joel Kan, MBA’s associate vice president of industry and economic forecasting. The refinance share of mortgage activity increased to 71.1 percent of total applications…

Mortgage Applications Flat For Week

Mortgage applications held largely steady again, with a decrease of 0.3 percent for the week ending November 13, according to a report released Wednesday by the Mortgage Bankers Association. Purchase applications dipped 1 percent for the week but were 26 percent higher than a year ago, while refinance applications fell 2 percent for the week and were 98 percent higher than a year ago. “The refinance index decreased last week – driven by sharp declines in FHA and VA applications – but remained a robust 98 percent above a year ago. The average refinance loan balance of $291,000 last week was the lowest since January. Many borrowers with higher loan balances may have acted earlier on in the current refinance…