Mortgage Applications Decrease

Posted by Orb Staff on February 16, 2011 No Comments
Categories : Residential Mortgage

Mortgage loan application volume fell 9.5% on a seasonally adjusted basis for the week ending Feb. 11, the Mortgage Bankers Association (MBA) reports in its latest applications survey. On an unadjusted basis, applications decreased 7.9% compared with the previous week.

The Refinance Index decreased 11.4% from the previous week and is the lowest Refinance Index recorded in the survey since July 2009. The seasonally adjusted Purchase Index decreased 5.9% from one week earlier. The unadjusted Purchase Index decreased 0.9% compared with the previous week and was 18.2% lower than the same week one year ago.

‘Mortgage rates remained above five percent last week, up almost a full percentage point from their October lows, and refinance volume continued to drop,’ says Michael Fratantoni, MBA's vice president of research and economics. ‘Applications for home purchases also declined on a seasonally adjusted basis. Buyers have not returned to the market, as rising rates have reduced affordability, to some extent.’

SOURCE: Mortgage Bankers Association

Register here to receive our Latest Headlines email newsletter




Leave a Comment

Mortgage Applications Decrease

Posted by Orb Staff on September 15, 2010 No Comments
Categories : Residential Mortgage

The Mortgage Bankers Association's measure of mortgage loan application volume for the week ending Sept. 10 decreased 8.9% on a seasonally adjusted basis from one week earlier. The survey results include an adjustment to account for the Labor Day holiday. On an unadjusted basis, the index decreased 27.4% compared with the previous week.

The seasonally adjusted Purchase Index decreased 0.4% from one week earlier. The unadjusted Purchase Index decreased 21.9% compared with the previous week and was 39.7% lower than the same week one year ago.

The refinance share of mortgage activity decreased to 80.5% of total applications from 81.9% the previous week.

SOURCE: Mortgage Bankers Association

Register here to receive our Latest Headlines email newsletter




Leave a Comment