MND NewsWire : Mortgage Bankers Association

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)

MBA Says Commercial Real Estate Market Coming Under Pressure

CEP News Feed — Thu, 08 Jan 2009 14:39:18 GMT

The U.S. economic slowdown and credit crunch are beginning to affect the commercial real estate market in the United States, according to a report from the Mortgage Bankers Association on Thursday. "Despite relatively modest new construction activity...(read more)

MBA Reports Commercial/Multifamily Mortgage Debt Drops in Q3

CEP News Feed — Thu, 18 Dec 2008 16:14:29 GMT

Mortgage debt in commercial/multifamily dwellings dropped 0.1% in the third quarter to 3.44 trillion, according to a Mortgage Bankers Association (MBA)examination of the Federal Reserve Board Flow of Funds data. Commercial/multifamily mortgage outstanding...(read more)

Banks to Lend More as Confidence Returns

CEP News Feed — Fri, 05 Dec 2008 14:41:49 GMT

In a speech to the Mortgage Bankers Association on Friday, Assistant Treasury Secretary in change of the TARP, Neel Kashakri , said that banks will continue to supply credit as confidence returns to the markets. "In just over one month, we have disbursed...(read more)

Most Mortgage Rates Dip to Spring Levels under Federal Conservatorship

Jann Swanson — Fri, 12 Sep 2008 12:48:00 GMT

In its first week at least, the conservatorship of Freddie Mac and Fannie Mae accomplished one part of the hoped-for effect; longer term mortgage rates plunged to levels not seen for months.

Freddie's Primary Mortgage Market Survey for the week ended September 11 (which includes the four business days since Sunday's announcement of the take-over of what is now THE mortgage market in the U.S.) showed the average interest rate for the 30-year fixed-rate mortgage (FRM) at 5.93 percent with 0.7 point in fees and point. During the week ended September 4 the average rate was 6.35 percent with 0.7 point. The last time the 30-year rate was this low was the week ended April 17 when the average was 5.88 percent with 0.4 point.

The survey reported that the 15-year FRM carried an average interest rate of 5.54 percent with 0.7 point compared to the week preceding the takeover when the average rate was 5.90 with 0.6 point. This was also the lowest point for the 15 year product since the week ended April 17 when the average was 5.4 percent with 0.5 point.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) were at 5.87 percent on average with 0.7 point. The previous week the average was 5.97 percent with 0.6 point. Again this rolls the rate back to April 17 levels when the average was 5.48 percent with 0.6 point. During the week ended September 4 the hybrid averaged 5.97 percent with 0.6 point.

Only the one-year ARM bucked the trend. That product, which is now gathering such a small share of the market as to be almost irrelevant, had a rate increase from 5.15 percent with 0.6 point to 5.21 percent, also with 0.6 point.

Frank Nothaft, Freddie Mac vice president and chief economist said of the survey results, "Interest rates for 30-year fixed-rate mortgages are down almost 0.6 percentage points over the past 4 weeks, which will help to spur home purchases and loan refinancing in coming weeks. This means that the monthly principal and interest payment on a new $200,000 loan is over $76 lower than a month ago.

"Lower rates have occurred at an opportune time, as the July pending sales data from the National Association of Realtors were off 3.2 percent from June. The Mortgage Bankers Association reported that refinance applications are up 18 percent over the past 3 weeks through September 5th, indicating that refinance activity has already begun to pick up."

Mortgage Bankers Association data on mortgage applications during the week since the federal takeover will be released next Wednesday.

MBA Mortgage Applications Move Up in Week Ending September 5

CEP News Feed — Wed, 10 Sep 2008 11:01:00 GMT

Weekly mortgage applications in the United States increased in the week ending Sept. 5, according to data released from the Mortgage Bankers' Association (MBA) on Wednesday, which reported a 9.5% week-over-week rise in applications. In the previous...(read more)

MBA Mortgage Applications Move Down in Week Ending August 22

Glenn Setzer — Wed, 27 Aug 2008 11:00:00 GMT

Weekly mortgage applications in the United States increased in the week ending Aug. 22, according to data released from the Mortgage Bankers Association (MBA) on Wednesday, which reported a 0.5% week-over-week rise in applications.

In the previous week, applications also fell by 1.5%.

...(read more)

In Face of Conflicting Economic Reports, Interest Rates Stand Pat

Glenn Setzer — Wed, 20 Aug 2008 11:00:00 GMT

Mortgage interest rates for the week ended August 14 as reported from data collected by Freddie Mac from its Primary Mortgage Market Survey drifted in a very narrow range as they have done for most of 2008.

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending August 15 on Wednesday...

...(read more)

MBA Mortgage Applications Decline in Week Ending Aug. 8

Glenn Setzer — Wed, 13 Aug 2008 11:00:00 GMT

Weekly mortgage applications in the United States fell in the week ending Aug. 8, according to data released from the Mortgage Bankers Association (MBA) on Wednesday, which reported a 1.5% week-over-week decline in applications.

...(read more)

MBA Mortgage Applications Move Higher in Week Ending August 1

Glenn Setzer — Wed, 06 Aug 2008 11:00:00 GMT

Weekly mortgage applications in the United States rebounded in the week ending Aug. 1, according to data released from the Mortgage Bankers Association (MBA) on Wednesday, which reported a 2.8% week-over-week rise in applications...

...(read more)

MBA Says Home Construction Loan Delinquency Rate Misleading

Glenn Setzer — Tue, 01 Jul 2008 11:00:00 GMT

Constructions loans for single and multi family projects in the United States are incorrectly included in commercial real estate delinquency reports, according to the Mortgage Bankers Association's most recent Commercial/Multifamily Research DataNote.

According to the report, combining commercial real estate loans with construction projects destined for family dwellings greatly inflates the delinquency rates reported for...

...(read more)

MBA Mortgage Applications Decline in Week Ending June 20

Glenn Setzer — Wed, 25 Jun 2008 11:00:00 GMT

Weekly mortgage applications in the United States fell further in the week ending June 20, according to data from the Mortgage Bankers' Association (MBA) on Wednesday, which reported that applications fell by 9.3% week-over-week.

In the previous week, applications fell by a revised 8.7%.

The average loan size was...

...(read more)

MBA Mortgage Applications Fall in Week Ending June 6

Glenn Setzer — Wed, 11 Jun 2008 11:00:00 GMT

Weekly mortgage applications in the United States fell further in the week ending June 6, according to data from the Mortgage Bankers' Association (MBA) on Wednesday, which reported that applications increased by 10.6% week-over-week.

In the previous week, applications fell by 15.3%.

...(read more)

Lenders Facing Another Wave of Write-Offs

Glenn Setzer — Mon, 09 Jun 2008 11:00:00 GMT

Federal regulators are warning the world to get ready for the next wave of problems in the banking world.

Up to now banks have been struggling to deal with the piles of delinquent debt from earlier subprime lending to homeowners and the dozens of federal, state, and lender originated programs being proposed are all designed to address this crisis.

That situation is only getting worse according to information released last week by the Mortgage Bankers Association (MBA).

But, while lenders and investors have been working to raise the necessary capital reserves to withstand looming write-offs and losses from this consumer-based mess, a new group of bank customers have been watching their own situation get worse.

...(read more)

Weekly Mortgage Applications Decline Further

Glenn Setzer — Wed, 04 Jun 2008 11:00:00 GMT

Weekly mortgage applications in the United States fell further in the week ending May 30, according to data from the Mortgage Bankers' Association (MBA) on Wednesday, which said applications declined by 15.3% week-over-week to the lowest levels since April 2002.

In the previous week, applications fell by 4.6%.

...(read more)