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Tag Archives: Mortgage Applications

Refinances Push Up Application Volume


According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey, loan application volume rose 4.7 percent (seasonally adjusted) for the week ending January 17. The overall increase came entirely from a continued recovery in refinance numbers. The survey's Refinance Index was up 10 percent week-over-week, with refinance share accounting for 64 percent of total applications, the highest level in a month. Meanwhile, the seasonally adjusted Purchase Index dropped 4 percent compared to the prior week.

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MBA Data Points to Decline in December New Home Sales

The latest builder application data from the Mortgage Bankers Association (MBA) suggest new home sales numbers came in below average for December. MBA's latest Builder Application Survey, a measure of application volume from mortgage subsidiaries of homebuilders, shows applications for new home purchases dropped 11 percent from November to December (unadjusted). Unadjusted, MBA estimates the month saw 28,000 new home sales.

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Mortgage Banking Suffers at Wells, JPMorgan

This season's bank releases kicked off Tuesday with dual quarterly earnings reports from JPMorgan Chase and Wells Fargo--and as projected, weakened origination figures took their toll. JPMorgan's fourth-quarter income came to nearly $5.3 billion, a recovery from the third quarter's losses but a weak showing compared to the prior year's $5.7 billion. Meanwhile, Wells Fargo reported fourth-quarter profits of $5.6 billion, a 10 percent improvement over the same quarter last year.

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Mortgage Applications Index Drops to 12-Year Low

The Mortgage Bankers Association (MBA) reported a 5.5 percent decline (seasonally adjusted) in loan applications for the week ending December 13. On an unadjusted basis, MBA's Market Composite Index was down 6 percent. According to Mike Fratantoni, MBA's VP of research and economics, the latest index is the lowest it's been in more than 12 years. "Both purchase and refinance applications fell as interest rates increased going into today's Federal Open Market Committee meeting," Fratantoni explained.

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Mortgage Applications Pick Up Following Thanksgiving

Mortgage applications recovered slightly during the first week of December, the Mortgage Bankers Association (MBA) reported. MBA's Weekly Mortgage Applications Survey showed a 1.0 percent increase in loan application volume (seasonally adjusted) for the week ending December 6. The previous survey's results had included an adjustment for the Thanksgiving holiday. Unadjusted, the index increased 43 percent. As applications rose, so did mortgage rates.

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