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Mortgage application volume declined again last week , dragged down by flagging refinance activity. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of that volume, decreased 2.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index was down by 3 percent. The Refinance Index decreased 4 percent from the previous week and was 2 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 66.8 percent of total applications from 67.3 percent the previous week. The seasonally adjusted Purchase Index gained 1 percent on the prior week but fell 2 percent on an unadjusted basis. It was 16 percent lower than the same week in 2020. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed
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Rob Chrisman
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Overheard recently: “I just want a man who will make me laugh as we count his family’s money on his rock-hard abs.” Lenders are doing okay, money-wise, as we put another month under our belt. It wasn’t a particularly good mont... (read more) |
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Housing News
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Mortgage application volume declined again last week , dragged down by flagging refinance activity. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of that volume, decreased 2.4 percent on a seasonally adjusted basis... (read more) |
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Housing News
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Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 8.4 percent in July compared to a 12.9 percent gain in June. The portfolio balance at the end of the period was $3.033 trillion compared to $3.021 tri... (read more) |
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