Mortgage Applications

Mortgage applications increased for the week ending October 2, driven by a surge in refinance requests, according to a report released Wednesday by the Mortgage Bankers Association. Overall, mortgage applications increased 4.6 percent from a week earlier – as refinance applications increased 8 percent and 50 percent from a year ago. Purchase applications slid 1 percent but were 21 percent higher than a year ago. The refinance share of mortgage activity increased to 65.4 percent of total applications from 63.3 percent the previous week. The adjustable-rate mortgage share remained unchanged at 2.2 percent of total applications. “There are signs that demand is waning at the entry-level portion of the market because of supply and affordability hurdles, as well as the…

Mortgage applications remain significantly higher than a year ago amid low rates and high demand for houses and refinances, according to the weekly mortgage applications survey released Wednesday by the Mortgage Bankers Association. For the week ending September 25, purchase applications dropped 2 percent for the week but were 22 percent higher than a year ago. Refinance applications decreased 7 percent for the week and were 52 percent higher than a year ago. Overall, applications dropped 4.8 percent for the week. The refinance share of mortgage applications decreased to 63.3 percent from 64.3 percent the previous week. The adjustable-rate mortgage share of activity remained unchanged at 2.2 percent of total applications. “Even as pent-up demand from earlier in the year…

Applications for home mortgage purchases increased 13 percent from the previous week and 25 percent over a year ago, according to a report released Wednesday by the Mortgage Bankers Association. Adjusted for the Labor Day holiday, purchase applications were up 3 percent for the week. Overall, applications were up 6.8 percent for the week – including a 9 percent increase for refinance applications. Compared to a year ago, refinance applications were 86 percent higher. The refinance share of mortgage activity increased to 64.3 percent of total applications from 62.8 percent the previous week. The adjustable-rate mortgage share of activity decreased to 2.2 percent of total applications. “Mortgage applications activity remained strong last week, even as the 30-year fixed-rate mortgage and…

Mortgage applications slid slightly last week though remained higher than a year ago, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey released Wednesday. Applications dropped 2.5 percent from one week earlier for the week ending September 11. The Refinance Index decreased 4 percent but was 30 percent higher than last year. The Purchase Index was 12 percent lower but was 6 percent higher than a year ago. “Mortgage rates held steady last week, and the 30-year fixed rate – at 3.07 percent – has now stayed near the 3 percent mark for the past two months. A 5 percent decline in conventional refinances pulled the overall index lower, but activity was still 30 percent higher than last year.…

Mortgage applications for new home purchases in August were up 33 percent over a year ago, though were slightly lower than in July, according to the Mortgage Bankers Association monthly Builder Application Survey released Tuesday. The seasonally adjusted estimate for August decreased 2.1 percent from the July pace. On an unadjusted basis, MBA estimates that there were 68,000 new home sales in August 2020, a decrease of 5.6 percent from 72,000 new home sales in July.  Conventional loans composed 69.1 percent of loan applications, FHA loans composed 19.2 percent, RHS/USDA loans composed 1.1 percent and VA loans composed 10.5 percent. The average loan size of new homes increased from $345,929 in July to $348,576 in August. “The housing market continued…

Mortgage applications dipped ever so slightly in the last week of August but remained significantly higher than a year ago, according to the weekly survey released Wednesday by the Mortgage Bankers Association. Overall, applications were down 2 percent for the week ending August 28. Refinance applications were down 3 percent for the week but were still 40 percent higher than the same week a year ago, while purchase applications were down 0.2 percent for the week but 28 percent higher than 2019 levels. The refinance share of mortgage activity decreased to 62.5 percent of total applications from 62.6 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 2.6 percent of total applications.  “Both conventional and…

Mortgage applications were up 33 percent from a year ago, according to a report released Wednesday by the Mortgage Bankers Association. Purchase applications were down 2 percent from the previous week while remaining significantly higher than a year ago. The Refinance Index was down 10 percent from the previous week but was 34 percent higher than 2019 levels. Overall, mortgage applications were down 6.5 percent for the week ending Aug. 21. “The home purchase market remains a bright spot for the overall economy,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “Purchase applications were essentially unchanged but were 33 percent higher than a year ago – the 14th straight week of year-over-year gains. Mortgage rates at…

Mortgage applications dropped 3.3 percent last week, the Mortgage Bankers Association announced Wednesday. For the week ending Aug. 14, purchase applications were down 1 percent from the week before – but were 27 percent higher than the same week last year. The Refinance Index dropped 5 percent from the previous week but was 38 percent higher than last year. “The housing market remains a bright spot in the current economic recovery and these results, combined with July data on housing starts and homebuilder optimism, suggest that housing supply could be increasing to better meet the strong demand for buying a home,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. The refinance share of mortgage activity decreased to…

People are still applying for mortgages at a rate significantly higher than last year. Mortgage applications were up 6.8 percent last week from a week earlier – while purchase applications were up 22 percent from the same year ago and refinance applications were up 47 percent from a year ago, according to a report released Wednesday by the Mortgage Bankers Association. “While this was still positive news for the purchase market, the gradual slowdown in the improvement in the job market and tight housing inventory remain a concern for the coming months, even as low mortgage rates continue to provide support,” said Joel Kan, MBA’s Vice President of Economic and Industry Forecasting. The refinance share of mortgage activity increased to…