Tag Archive for ‘mortgage applications’

Refinancing Activity Soars Due to Rate Declines

Amid growing concerns about housing affordability, the latest data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey show a surge in home refinancing, a week-to-week increase of 39% on a seasonally adjusted basis. The increase is contemporaneous with the fourth consecutive week of mortgage rates’ declining. Despite the widespread decrease in mortgage rates, changes in purchasing activity (i.e.,… Read More ›

Existing Home Sales – Real Time Tracking

In normal times roughly 70% of new home purchases are trade-up buyers (i.e., they have an existing home to sell) so the strength of existing home sales affects the strength of new home sales. Two series published by the National Association of Realtors (NAR) gauging the strength of the existing home sales sector are: pending sales and sales. The pending… Read More ›

Is it Easy to Obtain a Mortgage?

For many households, obtaining a mortgage is the most important step when seeking to purchase a home. As housing analysts, a natural question to ask when assessing the prospects for home buying is “how easy is it for households to obtain a mortgage?” The Federal National Mortgage Association (FNMA) or Fannie Mae attempts to shed light on this question with… Read More ›

MBA Introduces New Index Tracking Mortgages for New Homes

According to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS), mortgage applications for new home purchases decreased by a not seasonally adjusted monthly rate of 8.4% in May 2014. However, on a 12-month basis, mortgage applications for new home purchases in May 2014 were 4.9% higher than their level in May 2013. This is the fifth consecutive month of… Read More ›

Overall Demand for Home Mortgages Expected to Rise

The Federal Reserve Board recently released its quarterly survey of senior bank loan officers. The traditional questions asked by the survey address changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. The most recent survey results indicate that a moderate fraction of large banks reported that they had… Read More ›

House Prices Continue Their Ascent

Nationally, house prices continued to rise in February, contributing to the overall recovery in U.S. house prices. According to the most recent release by the Federal Housing Finance Agency, U.S. house prices rose by 0.7% on a month-over-month seasonally adjusted basis in February. This is the thirteenth consecutive monthly increase for the House Price Index – Purchase Only. Over this… Read More ›