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Tag Archives: Mortgage Bankers Association

Mortgage Apps Down for Second Straight Month

According to data reported by the Mortgage Bankers Association (MBA) and compiled by Capital Economics, mortgage application volumes slipped an additional 3.4 percent in July following June's 0.1 percent decline. Declines were nearly even in both purchase loan volumes, which fell 3.6 percent, and refinances, which were down 3.3 percent.

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Mortgage Credit Loosens in July Index

The Mortgage Bankers Association (MBA) reported a 0.5 percent increase in its Mortgage Credit Availability Index (MCAI) for the month of July, putting the index at 116.4. According to the group, the main force behind the increase was a rise in the number of jumbo adjustable-rate mortgage (ARM) programs. Also contributing to the pickup was an increase in availability of high-balance FHA and VA loan programs.

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Mortgage Closing Costs Up 6% as Fees Climb

According to data from finance site Bankrate.com, closing costs in 2014 are up 6 percent over last year, rising to an average $2,539 on a $200,000 loan (assuming a 20 percent down payment). "New mortgage regulations are the biggest reasons why closing costs went up over the past year," said Holden Lewis, senior mortgage analyst for Bankrate. "The good news is that some lenders have not increased fees."

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Mortgage Application Volumes Pick Up

After experiencing a post-holiday decline, applications for home mortgages picked up again last week, the Mortgage Bankers Association (MBA) reported. MBA's Market Composite Index, a weekly measure of mortgage loan application volumes, bumped up 2.4 percent on a seasonally adjusted basis for the week ending July 18, the group said.

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Mortgage Applications See Post-Holiday Drop

According to the Mortgage Bankers Association (MBA), total mortgage loan application volumes decreased 3.6 percent on a seasonally adjusted basis for the week ending July 11. Breaking down the overall decline, the refinance component of MBA's market index fell 0.1 percent week-over-week, putting a dent in the 0.4 percent rise reported at the start of July. Meanwhile, the seasonally adjusted measure of purchase applications fell 8 percent.

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New Home Purchase Applications Slide in June

The Mortgage Bankers Association's (MBA) Builder Applications Survey (BAS), a gauge of application volume from mortgage subsidiaries of homebuilders, suggests new home purchase applications slipped 5 percent from May to June, the group reported Thursday. The change does not include any adjustments for typical seasonal movements.

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Mortgage Apps Lift for July 4th Week

Mortgage application activity strengthened last week on a seasonally adjusted basis last week, getting a boost from higher purchase loan volumes. According to the Mortgage Bankers Association (MBA), mortgage applications increased a holiday-adjusted 1.9 percent for the week ending July 4. The last time applications rose was early June, shortly after the Memorial Day holiday.

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Boston Fed: Tight Credit Still Choking Recovery

Despite the best efforts of the federal government to allow those with dented and troubled credit to continue having access to mortgage loans, tight credit restrictions are still slowing the national housing recovery, according to a report released by the Federal Reserve Bank of Boston.

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Mortgage Credit Access Increases in June

The Mortgage Bankers Association (MBA) reported Tuesday a 0.6 percent increase in its Mortgage Credit Availability Index (MCAI) from May to June, putting the index at 115.8. The group links the increase in the headline index to "a slight net loosening in lender criteria regarding Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans with respect to minimum credit scores and maximum loan-to-value (LTV) ratios."

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Mortgage Apps Down 0.1% in June

Macroeconomic research company Capital Economics calculated a 0.1 percent decline in total loan application volumes throughout June following a 1.8 percent uptick in May. The company's figures are based on weekly reports put out by the Mortgage Bankers Association (MBA). So far this year, applications have risen in three months and fallen in the other three.

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