Tag Archives: Purchase Loans

The Mortgage Bankers Association (MBA) reported on Wednesday an increase in mortgage application volume to start October. According to data in MBA's Weekly Mortgage Applications Survey, loan application volume increased 1.3 percent (seasonally adjusted) for the week ending October 4. After tumbling for most of the summer, MBA's Refinance Index increased 3 percent week-over-week, rising to its highest level in almost two months. The Purchase Index fell, meanwhile, dipping 1 percent.

Investment bank FBR's third-quarter mortgage originations estimate is $349 billion, a 29 percent decline over the quarter. The abating refinance market is a major drag on the mortgage industry, and, "[w]e do not believe that there will be a strong enough increase in the purchase market this quarter to offset the loss in refi volume," FBR stated. FBR estimates a 46 percent decline in refinances in the third quarter and a 2 percent rise in purchase originations.

Using weekly data released by the Mortgage Bankers Association (MBA), Capital Economics economist Paul Diggle calculated a 7.7 percent drop in mortgage applications from August to September.

Mortgage application activity increased for the second straight week in September while mortgage interest rates continued to ease, the Mortgage Bankers Association (MBA) reported in its Weekly Mortgage Applications Survey. The survey's Market Composite Index increased 5.5 percent on a seasonally adjusted basis for the week ending September 20. On an unadjusted basis, the index increased an even 5 percent week-over-week. Purchase activity was strong, with that index climbing 7 percent (seasonally adjusted) from the week prior.

Second-quarter origination volume (in dollars) increased 9.6 percent over the same time last year as purchase loans started to make meaningful contributions to the housing recovery, Experian reported in its quarterly analysis of real estate trends. According to Experian's report, origination volume climbed to $478 billion, $42 billion more than Q2 last year. What was more notable to Experian, however, was how origination activity was split: As refinance volume tumbled, purchase volume stepped in to make up some of the difference.

Purchase loans took up more space among originations in August as credit requirements eased, according to data presented in Ellie Mae's monthly Origination Insight Report.

A slight decline in interest rates helped boost mortgage application volume last week, the Mortgage Bankers Association (MBA) reported Wednesday in its Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of loan application volume, increased 11.2 percent on a seasonally adjusted basis for the week ending September 13. The weekly improvement was aided in part by a rebound in refinance activity, which increased 18 percent from the previous week.

Mortgage refinance applications went into free-fall last week as interest rates came back up, according to data in the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of loan application volume, dropped 13.5 percent on a seasonally adjusted basis for the week ending September 6. The Refinance Index fell 20 percent week-over-week, bringing it to its lowest level since June 2009.

While FBR Capital Markets says its predictions for origination volume are still "attainable," the company admits its estimates "depend on a stable rate environment or a more robust level of economic activity."

Mortgage application volume continued to suffer throughout August as interest rates increased, but analysts at Capital Economics note bigger factors at play may aid lending in the near future.