Tag Archives: Purchase Loans

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.

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.

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.

Analyzing data as of the end of May, Black Knight Financial Services reported another gain in monthly prepayment activity—an indicator of refinancing—marking the third straight month of increases. At the same time, long-term fixed mortgage rates fell to 4.19 percent, their lowest level in more than half a year. Meanwhile, Black Knight also found that seasonal purchase origination activity has risen, with approximately 897,000 originations through April.

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.

On Wednesday, Freddie Mac released its monthly Multi-Indicator Market Index (MiMi) showing mixed signals for the U.S. housing market, with most markets struggling to improve at a pace faster than a slow crawl. Despite declining mortgage delinquencies, improving local employment, house price gains, and attractive mortgage rates, most housing markets remain weak due to weak home purchase mortgage applications.

Drawing from a sampling of mortgage applications from its network, Ellie Mae calculated an overall loan closing rate of 57.8 percent, a bounce up from 55 percent in April. The figure represents applications initiated 90 days prior "[t]o get a meaningful view of lender pull-through," the company said. Of those closed loans, two-thirds were for home purchases, the highest share on record.

The Mortgage Bankers Association (MBA) reported a seasonally adjusted 9.2 percent decline in its Weekly Mortgage Applications Survey for the week ending June 13. On an unadjusted basis, the group's application index was down 10 percent over the week. The drop reverses an adjusted 10.3 percent increase reported the week prior and accompanies a slight rise in average 30-year fixed rates to 4.36 percent.

According to figures released by the Mortgage Bankers Association (MBA), loan application volumes rose 10.3 percent on a seasonally adjusted weekly basis for the week ending June 6. The increase followed a 3.1 drop in May's last week, which included an adjustment for the Memorial Day holiday. Removing adjustments, MBA reported a 22 percent surge in applications last week from the prior period.

After a rough 2013—which saw average per-loan profits decline by nearly half year-over-year—mortgage banks are now losing money on each loan originated, the Mortgage Bankers Association (MBA) reported Tuesday. According to the trade group, independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $194 on each loan originated in the first quarter of the year.