MND NewsWire : Mortgage Applications

Mortgage Applications Decline. Refinance Demand Drops 16.2%. Purchases Down 5.2%

Adam Quinones — Wed, 28 Oct 2009 11:26:00 GMT

In last week's release, which reported data for the week ending October 16, mortgage application activity fell 13.7% as mortgage rates rose from 5.02% to 5.07%. The Refinance Index, adjusted for the Columbus Day holiday, decreased 16.8% from the previous week while the seasonally adjusted Purchase Index moved lower as well, decreasing 7.6% from one week earlier. The refinance share of mortgage activity fell to 65.0% of total applications from 67.4% in the previous week. In today's release, which covers new loan applications for the week ending October 23, the MBA reported that demand for new mortgages dropped 12.3%, even as mortgage rates fell from 5.04% to 5.07%. ...(read more)

MBA: Refinance Loan Applications Fall 16.8%. Purchase Apps Decline 7.6%

Adam Quinones — Wed, 21 Oct 2009 14:38:00 GMT

The Mortgage Banker's application survey covers over 50% of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates home buying interest is increasing, a positive for the housing industry and economy as a whole. Furthermore, in a low mortgage rate environment, a trend of increased refinance applications implies consumers are seeking out a lower monthly payments which can result in increased disposable income and therefore more money to spend on discretionary items...or just an opportunity to pay down other debts like credit cards and car loans....(read more)

Mortgage Applications:Demand for Refinancing Shrinks, MBA Says

Patrick McGee — Wed, 17 Jun 2009 12:36:55 GMT

Demand for mortgages plummeted last week, pushing the index tracking mortgage applications down to a seven month low, even as average rates for a 30-year fixed mortgage moderated, a weekly report said Wednesday. Loan applications decreased 15.8% in the week ending June 12, according to the Mortgage Bankers Association, who have been conducting the survey since 1990. Meantime, the Purchase Index fell 3.5%. The average contract rate for a 30-year fixed-rate mortgage decreased from 5.57% in the prior...(read more)

Mortgage Loan Applications Fall as Interest Rates Soar

Patrick McGee — Wed, 03 Jun 2009 15:36:35 GMT

Mortgage loan applications decreased by 16.2% in the final week of May, as average mortgage rates moved up almost 50 basis points, according to the weekly survey from the Mortgage Bankers Association. Compared to the same four-day week from last year, however, loan volume was up 14.4%. Analysts often look to the 4-week moving average to get a fuller picture of the market. With this week’s data that average is now down 9.0%. The Refinance Index fell 24.1% in the week, but the Purchase Index...(read more)

Loan Applications Fell Last Week, Says MBA

Patrick McGee — Wed, 27 May 2009 12:57:58 GMT

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...(read more)

Mortgage Loan Applications Up 42% from Last Year

Patrick McGee — Wed, 20 May 2009 13:08:35 GMT

Mortgage Loan Applications increased 2.3% in the week ending May 15, according to the Mortgage Bankers Association on Wednesday morning. The private industry group said their weekly index ― the Market Composite Index, which began in 1990 ― is now at 915.9, a 42% advance compared to this time one year ago. During the same period, the Refinance Index increased 4.5% to 4794.4, but the Purchase Index decreased 4.4% to 254.0. The share of mortgages that are refinance-related was 73.6% in the survey, compared...(read more)

Mid-Morning Recap: Geithner Looks to Help Small Banks; Mortgage Applications Fall

Patrick McGee — Wed, 13 May 2009 15:18:47 GMT

Markets were hit with three poor data points before the opening bell on Wednesday. Mortgage Loan Applications took a tumble , April’s Retail Sales report unexpectedly fell, and a rise in import prices heavily outweighed a gain in export prices. In the minutes following the latter two releases, S&P 500 futures fell 16.7 points, Dow futures lost 140 points, and Nasdaq futures were off 20.50 points. Roughly an hour into the trading session, not much has changed: the S&P is down 1.32% to...(read more)

Mortgage Applications Tumble In First Week of May

Patrick McGee — Wed, 13 May 2009 12:48:00 GMT

Despite lower mortgage rates, loan applications for the week ending May 8 fell 8.6% compared to the prior week, said the Mortgage Bankers Association on Wednesday. The average rate for a 30-year fixed-rate mortgage decreased to 4.76% from 4.79%. The Market Composite Index, a seasonally-adjusted measure of mortgage loan application volume, fell to 895.6 in the week, decreasing from a 979.7 level one week prior. The four week moving average is also down 5.1%. The weekly survey covers about half all...(read more)

Rising Mortgage Applications Give Further Evidence Housing is Stabilizing

Patrick McGee — Wed, 06 May 2009 14:06:00 GMT

The weekly index of Mortgage Applications , which measure loan application volume as compiled by the Mortgage Bankers Association, rose 2% in the week ending May 1. Refinance loans made up 74.4% of total applications, a decrease from 75.3% in the previous week. Adjustable-rate mortgages once again made up 2.1% of total applications. The seasonally adjusted index of applications is now at 979.7. The increase occurred even as mortgage costs had risen to their highest levels since mid-March. The average...(read more)

The Day Ahead: ADP Private Employment to Signal Major Nonfarm Payrolls Losses

Patrick McGee — Wed, 06 May 2009 13:05:11 GMT

The main event on Tuesday will be the release of the ADP Private Employment survey at 8:15 am. The release is the most closely watched tool to predict the official government statistics to be released Friday. In March, the ADP survey showed a loss of 742,000 jobs; two days later, the BLS Nonfarm Payrolls report said the official number was -663,000. Already released this morning were positive results from the weekly Mortgage Applications report from MBA. For the week ending May 1, the seasonally...(read more)

MBA Application Activity Falls 18.1%

Matthew Graham — Wed, 29 Apr 2009 15:03:00 GMT

The Mortgage Bankers Association today released it's survey on mortgage application activity for the week ending April 24th. The index, which measures both purchase and refinance volume as reported by mortgage bankers, commercial banks, and thrifts, fell from 1170.2 to 960.6 which is a decrease of 18.1%. The year over year decrease stands at 62.7% Refinance transactions, down 21.9% to 5108.2 versus 6540.7 a week earlier, accounted for a majority of the drop. The purchase indeces were down as...(read more)

MBA Mortgage Applications Snap Five-Week Win Streak

CEP News Feed — Wed, 15 Apr 2009 13:50:01 GMT

Weekly mortgage applications in the United States ended their five-week winning streak in the reference week April 10, according to data released from the Mortgage Bankers' Association (MBA) on Wednesday. The MBA reported an 11.0% week-over-week decrease...(read more)

MBA Mortgage Applications Surge in Week Ending April 3

CEP News Feed — Wed, 08 Apr 2009 13:32:14 GMT

Weekly mortgage applications in the United States advanced for the fifth week in a row in the week ending April 3, according to data released from the Mortgage Bankers' Association (MBA) on Wednesday, which reported a 4.7% week-over-week increase...(read more)

MBA Mortgage Applications Up for Fourth Week in a Row

CEP News Feed — Wed, 01 Apr 2009 13:27:56 GMT

Weekly mortgage applications in the United States advanced for the fourth week in a row in the reference week March 27, according to data released by the Mortgage Bankers' Association (MBA) on Wednesday. The MBA reported a 3.0% week-over-week increase...(read more)

Mortgage applications rose 11.3% last week: MBA

CEP News Feed — Wed, 11 Mar 2009 13:16:10 GMT

Weekly mortgage applications in the United States advanced in the week ending March 6, according to data released from the Mortgage Bankers' Association (MBA) on Wednesday, which reported an 11.3% week-over-week increase in applications. In the previous...(read more)