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Tag Archives: Mortgage Applications

Mortgage Activity Increases as Rates Find New Lows

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More consumers are applying for a mortgage - on both the refinance and homebuying fronts - and taking advantage of exceptionally low borrowing costs. The Mortgage Bankers Association says its composite measurement of total mortgage application volume rose 2.8 percent last week as all fixed-rate loan products posted their lowest average rates in the history of the trade group's survey. With mortgage rates resuming their fall, housing affordability remains extremely high even as home values head higher across much of the country.

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Mortgage Rates Set New Lows as Economy Tilts Here, There

A decline in interest by homebuyers shaved just 0.2 percent off mortgage applications last week, with refinance activity climbing. The Mortgage Bankers Association, which unveils the figures in a weekly survey, found application volume upward-bound by 24 percent on a seasonally unadjusted basis. Refinance applications started to swell last week. The Refinance Index went up 1 percent, with the refinance share of mortgage activity cresting at 81 percent of total applications, up from 80 percent last week.

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Mortgage Applications Soar as Interest Rates Fall

Mortgage applications shot up 11.1 percent from the week before, according to the Mortgage Bankers Association. The trade group found that mortgage loan volume fell by 12 percent on a seasonally unadjusted basis from the week before. According to their indices, refinance volume and purchases went up 12 percent and 8 percent, respectively. Purchases fell more than 15 percent on an unadjusted basis, although it stayed 7 percent higher than figures seen at the same time last year.

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Mortgage Applications Fall 2.5% as Refinances Steady: MBA

Mortgage applications fell 2.5 percent last week, according to the Mortgage Bankers Association. The trade group found application volume declining by 3 percent on a seasonally unadjusted basis. Purchases fell 0.8 percent from the week before and 3 percent on a seasonally unadjusted basis. The refinance share of mortgage activity stayed the same from last week, hovering at 79 percent, with the adjustable-rate mortgage share of activity ticking up to 5 percent of total volume. Interest rates for fixed-rate mortgages by and large fell with volume.

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Mortgage Applications Decline 4.5% as Rates Hold Steady

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Mortgage applications decreased 4.5 percent over the week last week with most of the decrease occurring among refinance applications, according to the latest survey from the Mortgage Bankers Association. Refinance activity fell 5 percent compared to the previous week, while purchase activity declined 2 percent. Refinance applications continue to make up a majority of applications, taking an 81 percent share of total mortgage application activity for the week ending August 10. Adjustable-rate mortgages made up 4 percent of total applications for the week.

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Housing Scorecard Reveals Slippery Recovery

Though the skies above the housing market appear to be clearing, the July edition of the Obama administration├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Housing Scorecard warns of another storm to come. HUD and Treasury Department released the latest scorecard Friday, providing a look at a market in recovery but threatened by an expected increase in foreclosure activity. According to the report, foreclosure starts and completions both declined in June, painting a picture of continued recovery. However, officials expect foreclosure activity to pick up in coming months as firms lift delays in foreclosure processing.

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Refinance Applications Rise Highest Since January

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Mortgage applications went up 0.2 percent last week as refinance volume rallied at levels not seen for the past several years. The Mortgage Bankers Association found the refinance share of mortgage activity ticking up to 81 percent of total application volume, the highest since January this year, while the Refinance Index climbed 0.8 percent to its highest level since April 2009. The increase in refinance activity also saw a 6 percent decline in government refinance applications. The adjustable-rate mortgage share of activity declined to 4.1 percent of total volume.

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Refinance Applications Reach Highest Level Since 2009

More applications ticked up as record-low mortgage rates spurred refinance applications to their highest level since April 2009. The Mortgage Bankers Association found that applications increased 0.9 percent from the week before. The Refinance Index climbed by 2 percent to reach the highest level in three years, with the refinance share of activity ticking up to 81 percent of application volume from 80 percent last week. The adjustable-rate mortgage share of activity amounted to 4 percent of total volume from the week before.

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Construction Industry Wavers as Home Sales Lift Economy

Increased home sales continue to help the United States out of its Great Recession, but uneven job growth is stunting recovery, according to Freddie Mac├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós U.S. Economic and Housing Market Outlook for July. The report, released Wednesday, showed that record-breaking low mortgage rates and refinances through HARP 2.0 drove up housing demand, leading to increases in housing starts, home sales, and prices in many markets. Housing starts for the first five months of the year averaged an annual rate of 719,000, a 26 percent increase from the same period in 2011.

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Wells Fargo Sees Boost From Q2 Profits

Improvements in mortgage banking and credit quality helped Wells Fargo see income gains for the second quarter of 2012. On Friday, Wells Fargo reported a net income of $4.6 billion, or $0.82 per share. The reported earnings for the most recent quarter was an 18 percent increase from the same quarter a year ago, when net income was $3.9 billion, or $0.70 per share. Net income for the most recent quarter was also up from the previous quarter when net income was $4.2 billion, or $0.75 per share.

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