Tag Archives: Refinance

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.

Mortgage applications continued to backslide last week, though not as quickly as before, the Mortgage Bankers Association (MBA) reported. The group's Market Composite Index, a measure of loan application volumes, fell 1.0 percent on a seasonally adjusted basis for the week ending June 20. The decline brings application levels back down to their lowest in two months.

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.

Using information reported weekly by the Mortgage Bankers Association (MBA), research firm Capital Economics calculated a 2.0 percent rise in application volumes throughout May, a reversal from April's 4.8 percent drop. The increase came despite a 3.1 percent decline in the month's final week, bringing activity to a six-week low.

Purchase loans made up 63 percent of originations in April, up from 60 percent a month earlier and significantly higher than last year, according to the latest report from Ellie Mae. Jonathan Corr, Ellie Mae's president and COO, noted it was the highest share of purchase loans the company has recorded since it began reporting data in August 2011.

After moving up for three straight weeks, mortgage application volumes dropped last week as activity fell for both purchases and refinances. The Mortgage Bankers Association (MBA) reported Wednesday that applications fell 1.2 percent on a seasonally adjusted basis for the week ending May 23. On an unadjusted basis, application totals were down 2 percent.

After sinking steadily for the last 10 months, new business activity has picked up a bit for Freddie Mac—though that didn't stop its portfolio from shrinking again. The mortgage giant released Wednesday its volume summary for April, recording a negative annualized growth rate of 3.0 percent for its total mortgage portfolio. It was the highest rate of contraction since October, when the portfolio shrank at a rate of 6.4 percent.