Tag Archives: Purchase Loans

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.

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.

Zillow expects conditions next year to be a bit friendlier to homebuyers--but that doesn't mean we'll necessarily see more owner-occupied housing, experts at the real estate marketplace say. Looking at ongoing trends, Zillow made four major predictions about the course of housing over 2014: a 3 percent increase in home values, a rise in mortgage rates to 5 percent, a clearer road to credit for borrowers, and a decline in homeownership to normal levels.

The Mortgage Bankers Association (MBA) released Wednesday its Quarterly Mortgage Bankers Performance Report, which measures stats at independent mortgage banks and mortgage subsidiaries of chartered banks. According to MBA's figures, average production volume per company was $391 million in Q3, down nearly $48 million from the prior quarter. By count, companies averaged 1,788 loans, down from 1,921 in Q2. In terms of profits, independent mortgage banks earned an estimated $743 on each loan originated in Q3, down from $1,528.

Using weekly application numbers released by the Mortgage Bankers Association (MBA), economic analysis firm Capital Economics calculated a 1.3 percent decrease in total applications for November.

Mortgage loan production suffered among independent mortgage bankers throughout the third quarter--but servicing revenues are helping to ease the pain for those with portfolios, Richey May revealed in its latest quarterly report. Overall, net income declined 60 basis points from the second quarter, though a 0.07 percent increase in the average value of servicing portfolios helped offset losses at those with servicing interests, Richey May reported.

Last week saw another drop in mortgage application volume, the Mortgage Bankers Association (MBA) reported in its Weekly Applications Survey. MBA's Market Composite Index, a measure of mortgage loan application volume, fell a seasonally adjusted 0.3 percent the week ending November 22, the group reported. It was the fourth straight week of decreases in loan application activity. On an unadjusted basis, the index declined 9 percent week-over-week.

According to Ellie Mae's data, which draws from a sampling of the loan applications flowing through the company's network, purchase loan share was 61 percent in October.

Mortgage application volume declined once again for the week ending November 15, the Mortgage Bankers Association (MBA) reported in its Weekly Mortgage Applications Survey.

The third-quarter average is down 2.74 percent from the previous quarter, according to LendingTree, which suggested in a press release that the drop is due to a slight loosening of standards by lenders across the nation. The lowest average down payment percentage in the third quarter took place in Nebraska, where down payments averaged 12.5 percent of loan values. South Dakota (12.8 percent), Arkansas (12.9 percent), and Alabama (12.9 percent), followed, all with averages under 13 percent for the quarter.