Browse by Tags

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 8, 2011. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly...

"After five weeks of steadily declining rates to yet another new low, borrowers who had been on the fence jumped off, which factored into refinance activity surging more than 20 percent. Refinance application volumes are now close to the highest level this year. Purchase activity remains generally weak, but applications for conventional purchase mortgages are now at their highest level since the beginning of May following the expiration of the tax credit."...

The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent on a seasonally adjusted basis from one week earlier. The Refinance Index decreased 7.3 percent from the previous week. The refinance share of mortgage activity decreased to 73.8 percent of total applications from 74.8 percent the previous week. The decline in total purchase applications was driven by a 4.4 percent decrease in government applications, while conventional purchase applications increased by 1.0 percent....

Loan applications for mortgages decreased last week as average rates for a 30-year fixed rate mortgage ticked upwards, a weekly report said Wednesday. Loan applications decreased 14.2% in the week ending May 22, according to the Mortgage Bankers Association, who have been conducting the survey since 1990. Over the past four weeks,the index tracking loan applications has fallen by an average of 4.7%, even as the four week moving average for purchases has edged up an 0.5%. The decline was led by an...