Tag Archives: Mortgage Applications

A slowdown in refinances and purchase mortgage loans drove overall applications down this week, according to the Weekly Mortgage Applications Survey from the Mortgage Bankers Association.

As the TILA-RESPA Integrated Disclosure rule came and went, mortgage applications experienced some drastic ups and downs in the week prior to regulation's implementation date and the week after.

Mortgage applications experienced a dramatic increase this week just before the TILA-RESPA Integrated Disclosed Rule was put into effect on October 3rd.

A rise in refinance activity boosted mortgage applications up 3.6 percent from last week, according to data from the Mortgage Bankers Association's weekly mortgage applications survey for the week ending August 14, 2015.

Applications for new home purchases dropped 4 percent in July compared to the prior month, according to the Mortgage Bankers Association Builder Application Survey data for July 2015.

Mortgage applications remained mostly flat for the week ending August 7, 2015, but refinance applications reached their highest point since May 2015, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey released Wednesday.

Yesterday, as mortgage rates crept up to 4 percent this week for the first time since November 2014, consumers responded with a decrease of mortgage applications by 9 percent, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for May 2015.

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) results showed mortgage applications for new home purchases increased by 0.3 percent compared to last month for April 2015. No adjustments for typical seasonal patterns were included in this data.

As for credit availability, Fratantoni said that “a number of factors contributed to a loosening of credit in March.” One factor is Freddie Mac's introduction of its 97 percent LTV program, which allows for as little as 3 percent down payment on a new home purchase. Other factors included looser parameters on jumbo loan programs, increased cash-out refinance loans offerings, and the growth of FHA’s VA Interest Rate Reduction Refinance Loan.

“Purchase application volume picked up for the week and on a seasonally adjusted basis reached its highest level since January 30, 2015, and continues to run about 3 percent ahead of last year’s pace,” MBA Chief Economist Mike Frantantoni said. “Low mortgage rates and more importantly continued improvements in the job market are the likely drivers behind this increase.”