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Mortgage Applications Up in Holiday-Adjusted Survey

Mortgage Applications Up in Holiday-Adjusted Survey

The Mortgage Bankers Association (MBA) reported a seasonally adjusted increase of 4.9 percent in mortgage applications for the week ending November 14. The figure also includes an adjustment for the Veterans Day bank holiday. The jump accompanied a slight dip in interest rates, which fell to an average 4.18 percent for a 30-year fixed-rate mortgage.

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Forecast: Economic Growth to Help Housing in 2015

Forecast: Economic Growth to Help Housing in 2015

In Freddie Mac's latest Economic and Housing Market Outlook for the United States, the company's economists turn their attention away from 2014—a mixed year for housing, especially compared to 2013—and toward 2015, which they say will see continued strengthening in the market for home purchase mortgages as the economy improves on a broad basis.

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Mortgage Credit Availability Falls in October

Mortgage Credit Availability Falls in October

Access to mortgage credit tightened in October, according to a report from the Mortgage Bankers Association (MBA). The group's Mortgage Credit Availability Index (MCAI), a gauge of credit access based on borrower traits and underwriting trends, fell 2.5 percent last month to a reading of 113.2.

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Purchase Loans Account for Nearly 75% of Q3 Mortgages

Purchase Loans Account for Nearly 75% of Q3 Mortgages

According to a snapshot of mortgage trends released this week by Guaranteed Rate, purchase loans accounted for 73 percent of all mortgage volumes last quarter, up from 63 percent a year prior. The increase came as refinancing numbers dropped off by more than a third annually—"indicative of the fact that the third quarter of 2013 was when the mortgage market began to account for higher interest rates," Guaranteed Rate said.

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Mortgage Applications Jump on Refinance Surge

Mortgage Applications Jump on Refinance Surge

MBA's Weekly Mortgage Applications Survey shows mortgage application volumes jumped 11.6 percent for the week ending October 17. The surge in the headline index stemmed from a substantial jump in the refinance application component, which was up 23 percent week-over-week to hit its highest level since November 2013.

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Revolving HELOC Volumes Hit Six-Year High

Revolving HELOC Volumes Hit Six-Year High

Credit reporting agency Equifax released on Monday its latest National Consumer Credit Trends Report, revealing that the total balance of new credit for revolving home equity loans in the year's first seven months was $65.9 billion. The figure, up 21.4 percent year-over-year, marks a six-year high.

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Mortgage Apps Jump Following Topple in Interest Rates

Mortgage Apps Jump Following Topple in Interest Rates

The Mortgage Bankers Association (MBA) reported a 5.6 percent increase in its mortgage applications index for the week ending October 10. The headline index got a boost from refinancing applications, which surged 11 percent over the week as the average 30-year fixed mortgage rate dropped to 4.20 percent, its lowest in more than a year.

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Profits Rise at Wells Fargo, JPMorgan Chase

Profits Rise at Wells Fargo, JPMorgan Chase

Third-quarter profits improved annually at two of the nation's biggest megabanks, though mortgage banking results were mixed. For the latest completed quarter, JPMorgan Chase reported net income of $5.6 billion compared to a loss of $380 million a year ago. On the other side of the country, Wells Fargo posted profits of $5.7 billion for the quarter, up from $5.6 billion in Q3 2013 and flat from Q2 2014.

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