Tag Archives: Mortgage Applications

Mortgage lending standards loosened slightly in June, according to the Mortgage Bankers Association's (MBA) Mortgage Credit Availability Index (MCAI). The index, which analyzes data from AllRegs Market Clarity, increased to 109.8, a gain "primarily driven by a small uptick in the number of products which offer a cash-out feature. There were also small increases in the number of jumbo, investor, and higher LTV [loan-to-value ratio] offerings," the association said in a release.

According to data taken from the Mortgage Bankers Association (MBA) and compiled by Capital Economics, total application volume plummeted 22.5 percent in June.

Mortgage applications continued to fall last week following a sizable spike in interest rates, the Mortgage Bankers Association (MBA) reported in its Weekly Mortgage Applications Survey. The Refinance Index fell 5 percent from the previous week, dipping to its lowest level since November 2011. The refinance share of total mortgage activity also declined, falling to 67 percent--the lowest level since July 2011. Meanwhile, the seasonally adjusted Purchase Index actually rose, increasing 2 percent.

After coming back for a short period, mortgage applications resumed their downward trend in June's second week, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, a measure of loan application volume, fell 3.3 percent on a seasonally adjusted basis for the week ending June 14. On an unadjusted basis, the index dropped 4 percent compared with the previous week. At the same time, mortgage rates continued to increase.

While experts at Capital Economics don't believe the recent rise in mortgage rates will be enough to derail the recovery entirely, it does bring some difficulties with it.

A majority of people applying for mortgage loans online are applying during work hours, according to a recent survey by MortgageMarvel.com.

After falling throughout May, mortgage application volume rose for the first week of June, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of loan application volume, increased 5.0 percent for the week ending June 7, MBA reported. Unadjusted, the index rose 16 percent. The previous week's results included an adjustment for the Memorial Day holiday. The increase in application volume came despite continued rises in rates.

According to Capital Economics' data, total mortgage application volume fell 2.0 percent from April to May, the first monthly drop since February and the biggest decline since January.

Mortgage refinance applications continued to suffer last week as mortgage rates climbed to their highest level in a year, the Mortgage Bankers Association (MBA) reported in its Weekly Applications Survey. The survey's Market Composite Index, a measure of mortgage loan application volume, declined a seasonally adjusted 8.8 percent for the week ending May 24, MBA reported. Unadjusted, the index dropped 9 percent week-over-week. The Refinance Index decreased 12 percent, the largest single-week drop in refinance volume so far this year.

The last time both prices and sales of new homes increased in the same month was last September. What of course is missing from the two data sets is any indication of demand.