Mortgage Applications Down For Week

Mortgage applications declined slightly for the week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey released Wednesday. The survey found that overall applications were down 2.5 percent, while the Refinance Index dropped 1 percent for the week and was 18 percent lower than the same week a year ago. The Purchase Index decreased 4 percent for the week and was 34 percent higher than last year. The refinance share of mortgage activity increased to 60.6 percent of total applications from 60.0 percent the previous week. The adjustable-rate mortgage share of activity decreased to 3.5 percent of total applications. “Even with a few weeks of lower rates, most borrowers have likely already refinanced, which is why activity has decreased…

Mortgage Applications Up 8.6% For Week

Mortgage applications climbed 8.6 percent for the week ending April 16, according to the latest Weekly Mortgage Applications Survey released Wednesday by the Mortgage Bankers Association. MBA said the Refinance Index increased 10 percent from the previous week and was 23 percent lower than the same week one year ago. The unadjusted Purchase Index increased 7 percent compared with the previous week and was 57 percent higher than the same week one year ago.   The refinance share of mortgage activity increased to 60 percent of total applications from 59.2 percent the previous week. The adjustable-rate mortgage share of activity remained unchanged at 3.6 percent of total applications.   “Mortgage rates dropped to their lowest levels in around two months,…

Mortgage Applications See Weekly Decline

Mortgage applications dropped 3.7 percent for the week ending April 9, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey released Wednesday. The Refinance Index decreased 5 percent for the week and was 31 percent lower than the same week one year ago. The unadjusted Purchase Index decreased 1 percent for the week but was 51 percent higher than the same week in 2020.   The refinance share of mortgage activity decreased to 59.2 percent of total applications from 60.3 percent the previous week. The adjustable-rate mortgage share of activity decreased to 3.6 percent of total applications. “The third straight week of declining purchase activity is a sign that rising home prices and tight supply are constraining home sales –…

Mortgage Applications Down 5%

Mortgage applications slid 5 percent for the week ending April 2 amid higher interest rates, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey. The Refinance Index decreased 5 percent from the previous week and was 20 percent lower than the same week one year ago. The unadjusted Purchase Index decreased 4 percent compared with the previous week and was 51 percent higher than the same week one year ago.  The refinance share of mortgage activity decreased to 60.3 percent of total applications from 60.6 percent the previous week. The adjustable-rate mortgage share of activity increased to 3.7 percent of total applications.   “The return of rates to the highest level since last June contributed to a slowdown…

Mortgage Applications Decline For Week

Mortgage applications dropped 2.2 percent for the week, according to the Mortgage Bankers Association’s weekly mortgage applications survey released Wednesday. For the week ending March 26, the Refinance Index decreased 3 percent from the previous week and was 32 percent lower than the same week in 2020. The Purchase Index dropped 1 percent for the week and was 39 percent higher than a year ago. The refinance share of mortgage activity decreased to 60.6 percent of total applications from 60.9 percent the previous week. The adjustable-rate mortgage share of activity increased to 3.4 percent of total applications.   “Many prospective homebuyers this spring are feeling the effects of higher rates and rapidly accelerating home prices,” said Joel Kan, MBA’s Associate Vice…

Mortgage Applications Down For Week

Mortgage applications slid 2.5 percent in the latest Mortgage Bankers Association’s Weekly Mortgage Applications Survey released Wednesday. The survey found that the Refinance Index decreased 5 percent for the week ending March 19 from the previous week and was 13 percent lower than the same week one year ago. The unadjusted Purchase Index increased 3 percent compared with the previous week and was 26 percent higher than the same week one year ago.   The refinance share of mortgage activity decreased to 60.9 percent of total applications from 62.9 percent the previous week. The adjustable-rate mortgage share of activity increased to 3.2 percent of total applications. “The 30-year fixed mortgage rate increased to 3.36 percent last week and has now risen…

Mortgage Applications Up 9% Over Last February

Mortgage applications for new home purchases for February fell by 9 percent for the month – but were 9.2 percent higher than a year earlier, according to a new survey released Tuesday by the Mortgage Bankers Association. “The economy and job market continue to improve, but new home sales activity slowed in February. Builders continue to be confronted with rising input costs and a lack of available lots, causing them to slow production,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting.  MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 748,000 units in February 2021. The seasonally adjusted estimate for February is a decrease of 17.3 percent from the January…

Higher Rates Drive Refis Down

Amid higher interest rates, mortgage applications dipped slightly last week, according to a report released Wednesday by the Mortgage Bankers Association. MBA’s weekly mortgage applications survey found that applications overall decreased 1.3 percent for the week ending March 5. Refinance applications decreased 5 percent from the previous week and were 43 percent lower than the same week one year ago, while purchase applications increased 9 percent for the week and were 2 percent higher than a year ago. The refinance share of mortgage activity decreased to 64.5 percent of total applications from 67.5 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 3.0 percent of total applications. “The run-up in mortgage rates continues to cool demand…

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…