Mortgage Applications

Mortgage applications for home purchases increased for the eighth straight week as the housing market continues to take steps forward from the depths of the coronavirus pandemic. For the week ending June 5, purchase applications increased 15 percent on unadjusted basis over the week before and 13 percent than a year ago. Overall, all mortgage applications increased 20 percent for the week on an unadjusted basis – and 13 percent over the same week a year ago. “Fueled again by low mortgage rates, pent-up demand from earlier this spring, and states reopening across the country, purchase mortgage applications and refinances both increased. The recovery in the purchase market continues to gain steam, with the seasonally adjusted index rising to its…

Seven weeks and counting. Mortgage applications for new home purchases increased by 5 percent for the week ending May 29 – the seventh straight week purchase applications have increased, according to a report released Wednesday by the Mortgage Bankers Association. The MBA’s Purchase Index also was 18 percent higher than the same week a year ago. “The pent-up demand from homebuyers returning to the market continues to support a recovery from the weekly declines observed earlier this spring,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “However, there are still many households affected by the widespread job losses and current economic downturn. High unemployment and low housing supply may restrain a more meaningful rebound in purchase…

Mortgage applications for new home purchases continued their rebound last week, another sign the housing market is moving forward after economic shutdowns caused by the coronavirus pandemic. For the week ending May 22, The Mortgage Bankers Association’s Weekly Mortgage Applications Survey found that the purchase index increased 9 percent over the week before – the sixth straight weekly increase. Overall, mortgage applications increased 2.7 percent for the week. “The housing market is continuing its path to recovery as various states reopen, leading to more buyers resuming their home search,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. The Refinance Index decreased 0.2 percent from the previous week and was 176 percent higher than the same week…

By Jim Perskie Applications for mortgages for home purchases increased for the fifth straight week as the housing market continues to make tentative steps forward amid the coronavirus pandemic, the Mortgage Bankers Association announced Wednesday. MBA’s Weekly Mortgage Applications Survey showed that the Purchase Index for the week ending May 15 increased 6 percent over a week earlier, though it was slightly lower than a year ago. “Applications for home purchases continue to recover from April’s sizeable drop and have now increased for five consecutive weeks. Purchase activity – which was 35 percent below year-ago levels six weeks ago – increased across all loan types and was only 1.5 percent lower than last year,” said Joel Kan, MBA’s Associate Vice…

Mortgage applications for home purchases increased 11 percent last week, the latest sign that the housing market is taking early steps forward during the coronavirus pandemic. The Mortgage Bankers Associations Weekly Mortgage Applications Survey released Wednesday found that the number of purchase applications was 10 percent lower than the same week a year ago. Overall, total mortgage applications – including refinancing – increased 0.3 percent from a week earlier.  “We expect this positive purchase trend to continue – at varying rates across the country – as states gradually loosen social distancing measures, and some of the pent-up demand for housing returns in what is typically the final weeks of the spring home buying season,” said Joel Kan, MBA’s Associate Vice…

Mortgage applications for new home purchases increased for the third week in a row – a sign the housing market is making tentative steps forward amid the coronavirus pandemic.  The Mortgage Bankers Association announced Wednesday that overall mortgage applications increased 0.1 percent last week, while applications for new homes increased 6 percent. MBA’s refinance index decreased 2 percent from the previous week but was 210 percent higher than 2019 levels. “Mortgage application volume was unchanged last week, even as the 30-year fixed rate mortgage declined to 3.40 percent – a new record in MBA’s survey,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “Despite lower rates, refinance applications dropped, as many lenders are offering higher rates for refinances…

The number of new mortgage applications dropped slightly last week, though purchase applications increased and homeowners are taking advantage of low interest rates to refinance at a much higher rate than a year ago. Mortgage applications overall fell 3.3 percent from a week earlier last week, according to the weekly survey released Wednesday by the Mortgage Bankers Association. The MBA’s Refinance Index fell 7 percent from the previous week and was 218 percent higher than the same week one year ago. The unadjusted Purchase Index increased 13 percent over the previous week and was 20 percent lower than the same week one year ago. “The news in this week’s release is that purchase applications, still recovering from a five-year low,…