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 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 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 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…
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 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…
Mortgage applications edged up 3.8 percent for the week, as refinances and home purchases remain significantly higher than a year ago, according to a new report released Wednesday by the Mortgage Bankers Association. For the week ending October 30, refinances increased 6 percent from the previous week and were 88 percent higher than a year ago. Purchase applications were down 3 percent for the week but remained 25 percent higher than last year. The refinance share of mortgage activity increased to 68.7 percent of total applications from 66.7 percent the previous week. The adjustable-rate mortgage share of activity remained unchanged at 2.1 percent of total applications. “After a solid stretch of purchase applications growth, activity decreased for the fifth time…
Mortgage applications increased slightly in the latest weekly report released Wednesday by the Mortgage Bankers Association. The survey found: Mortgage applications for the week ending October 23 increased 1.7 percent from a week earlier.The Refinance Index increased 3 percent from the previous week and was 80 percent higher than the same week a year ago.The Purchase Index decreased 0.3 percent from the previous week and was 24 percent higher than the same week a year ago.The refinance share of mortgage activity increased to 66.7 percent of total applications from 66.1 percent the previous week.The adjustable-rate mortgage share of activity increased to 2.1 percent of total applications. “Mortgage applications to buy a home were flat compared to the prior week,…
Mortgage applications largely held steady in mid-October, while the number refinances remained dramatically higher than a year ago, according to a report released Wednesday by the Mortgage Bankers Association. Overall, applications dropped 0.6 percent for the week ending October 16 – with refinances increasing 0.2 percent from the previous week and purchase applications declining 2 percent. On a year over year basis, refinance applications were up 74 percent and purchase applications were up 26 percent. The refinance share of mortgage activity increased to 66.1 percent of total applications from 65.6 percent the previous week. The adjustable-rate mortgage share of activity decreased to 1.9 percent of total applications. “Homebuyer demand remains strong this fall, but purchase applications did decrease 2 percent,…
While mortgage applications overall were relatively flat, significantly more American homeowners continue to work to take advantage of low interest rates by refinancing their mortgages. The Mortgage Bankers Association weekly survey Wednesday found that mortgage applications decreased 0.7 percent from a week earlier – with the number of refinance applications slipping 0.3 percent while remaining 44 percent higher than a year ago. Purchase applications dropped 1 percent and were 24 percent higher than a year ago. “Refinance and purchase activity continue to run well ahead of last year’s pace, fueled by record-low rates and strong homebuyer demand,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “Housing supply is a challenge for many aspiring buyers, but activity…
