Tag Archive for ‘30-year fixed-rate mortgage’

Year-over-Year Gains for Mortgages Continue

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending November 6, 2020, mortgage application activity decreased by 0.5% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. One of its two constituent indexes, the Purchasing Index, decreased by 3% from the previous week while the other, the… Read More ›

Treasury-Mortgage Spread Significantly Narrows in October

In October 2020, the spread between the 10-year Treasury yield and the 30-year fixed-rate mortgage rate, as measured by Freddie Mac’s Primary Mortgage Market Survey (PMMS), significantly narrowed as Treasury rates were pushed upward in anticipation of a vaccine breakthrough and a rebound in the labor market and as mortgage rates remained low. At the beginning of October, the 10-year… Read More ›

Six Months of Year-over-Year Gains for Purchase Mortgages

The Mortgage Bankers Association’s latest Weekly Application Survey shows that, for the week ending October 30, 2020, mortgage application activity increased by 3.8% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. One of its two constituent indexes, the Purchasing Index, decreased by 0.1% from the previous week while the other, the Refinance… Read More ›

Upper End of Mortgage Market in Full Swing

The Mortgage Bankers Association’s latest Weekly Application Survey shows that, for the week ending October 23, 2020, mortgage application activity increased by 1.7% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. Its two constituent indexes, the Purchasing Index and the Refinance Index, increased by 1.7% and 0.2%, respectively. The MBA’s tracked 30-year… Read More ›

Refinancing Remains Robust

The Mortgage Bankers Association’s latest Weekly Application Survey shows that, for the week ending October 16, 2020, mortgage application activity decreased by 0.6% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. One of its two constituent indexes, the Purchasing Index, decreased by 2.1% from one week earlier, while the other, the Refinance… Read More ›

Mortgage-Treasury Spread Trended Lower in September

In September 2020 and thru the first week of the 2020’s fourth quarter, the 10-year Treasury Constant Maturity rate trended slightly higher, while the 30-year fixed mortgage rate, as determined by Freddie Mac’s Primary Market Mortgage Survey (PMMS), trended lower. The net result of these movements was that the overall spread trended lower in September. The PMMS’s latest mortgage rate… Read More ›

Amid Record Low Rates, Mortgage Application Activity Falters

For the week ending September 25, 2020, the Mortgage Bankers Association’s latest Weekly Application Survey showed a decrease in application activity, both in purchasing and refinancing, as its Market Composite Index decreased by 4.8% from the previous week on a seasonally adjusted basis. Its constituent indexes, the Purchasing and Refinancing indexes, decreased from the previous week by 1.9% and 6.5%,… Read More ›

Home Purchasing Reaches Highest Level in Over a Decade

For the week ending September 18, 2020, the Mortgage Bankers Association’s latest Weekly Application Survey showed a jump in application activity, both in purchasing and refinancing, as its Market Composite Index increased 6.8% from the previous week on a seasonally adjusted basis. Most notably, the Purchasing Activity reached its highest level since January 2009, when it was only 5.3% higher…. Read More ›

Despite Weekly Declines, Refinancing Year-over-year Gains Remain Strong

For the week ending September 11, 2020, the Mortgage Banker’s Association’s (MBA) Weekly Application Survey indicated a decrease in its Market Composite Index, a measure of both purchasing and refinancing, of 2.5% from one week earlier on a seasonally adjusted basis. The Purchasing and Refinancing Indexes decreased by 0.5% and 3.7%, respectively. The survey’s tracked 30-year fixed-rate mortgage rate remained… Read More ›

Treasury-Mortgage Spread Decreases in August

The month of August, in terms of the spread between the 10-year U.S. Treasury rate and the 30-year fixed-rate mortgage rate, was characterized by weekly declines, only to rise slightly by the first week of September. The 10-year U.S. Treasury rate is the rate that the U.S. government is willing and obligated to pay on the 10-year Treasury note, thus… Read More ›