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

Mortgage Activity Remains Higher Year-over-Year

For the four-week period ending on February 5, 2021, the Mortgage Bankers Association’s (MBA) latest Weekly Application Surveys showed sustained elevated activity, unseen through most of 2020, except at the outset of the COVID-19 pandemic. Additionally, the MBA’s tracked 30-year fixed-rate mortgage hovered a few basis points above 2.9%, reaching 2.96% in the latest week. While Purchasing maintained higher levels… Read More ›

Refinancing Soars in First Full Week of New Year

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending January 8, 2021, mortgage application activity increased by 16.7% 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, increased by 8% from the previous week while the other, the… Read More ›

Year-over-Year Gains for Home Purchases Continue

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending December 11, 2020, mortgage application activity decreased by 1.1% 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, increased by 1.8% from the previous week while the other, the… Read More ›

Treasury-Mortgage Spread Significantly Narrows in November

In November, the yield on the 10-year Treasury trended upwards while the 30-year fixed-rate mortgage rate, as measured by Freddie Mac’s Primary Mortgage Market Survey (PMMS), continued to fall. Thus, the widely tracked spread between these two indicators, i.e. the spread, narrowed. The above figure shows that, per the latest month’s data, the spread was as low as 179 basis… Read More ›

Record Low Interest Rate Fuels Refinancing Wave

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending November 27, 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, increased by 9% from the previous week while the other, the… Read More ›

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 ›