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Mortgage applications fell sharply last week, affecting both refinance and purchase components of the Mortgage Banker Association's (MBA's) Market Composite Index. The index, a measure of mortgage loan application volume, was down 6.9 percent on a seasonally adjusted basis during the week ended June 25, and was 7 percent lower before adjustment, bringing it to the lowest level in almost a year and a half. The Refinance Index decreased 8 percent from the previous week and was 15 percent lower than the same week one year ago. The refinance share of mortgage activity declined to 61.9 percent of total applications from 62.5 percent the previous week. The seasonally adjusted Purchase Index decreased 5 percent and the unadjusted version was down 6 percent compared with the previous week and was 17
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Rob Chrisman
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Halfway done with 2021?! Yes, time is flying, and summer is here. The weather service just published instructions on how to bake a lasagna in your mailbox. Speaking of time passing, here's an attention grabber: “Over a Quarter of Seniors Say Re... (read more) |
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Housing News
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Mortgage applications fell sharply last week, affecting both refinance and purchase components of the Mortgage Banker Association's (MBA's) Market Composite Index. The index, a measure of mortgage loan application volume, was down 6.9 percent on a se... (read more) |
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Housing News
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The government stakeholders involved in the various pandemic related forbearance programs appear to be directing their full attention to their upcoming expirations. Ginnie Mae earlier announced a new class of mortgage-based securities (MBS) to absorb... (read more) |
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