Eye On Housing
Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate continued to show elevated levels. For the week ending April 16, the average rate was 3.2%. For the same period, the MBA’s Market Composite Index (seasonally adjusted) underwent a series of declines, significantly tapering from its levels in March. It is only in the latest week’s… Read More ›
Since the start of 2021, the MBA’s tracked 30-year fixed rate mortgage rate has increased 40 basis points and currently stands at 3.28%. The week that showing the largest gains over the last month was the week ending February 26, increasing by 15 basis points. The previous week (i.e., the week ending February 19) saw an increase of 10 basis… Read More ›
According to the Federal Reserve Flow of Funds report, as of the fourth quarter of 2020, the market value of all real estate assets held by households stood at $32.0 trillion. On the other side of the balance sheet, their liabilities, i.e., the mortgages held on said assets, totaled $10.9 trillion. As a result, total owners’ equity, defined as the… Read More ›
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 ›
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 ›
The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending November 13, 2020, mortgage application activity decreased by 0.3% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. However, the Purchasing Index, increased by 3.5% from the previous week while the Refinance Index decreased by 2%. The MBA’s… Read More ›
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 ›
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 ›
For the week ending October 9, 2020, the Mortgage Bankers Association Weekly Application Survey showed a 0.7% drop in overall application activity from the previous week on a seasonally adjusted basis, as shown in its Market Composite Index. The constituent indices for Purchase and Refinance decreased by 1.6% and 0.3%, respectively, for the week. Despite the weekly declines, year-over-year gains… Read More ›
Despite the Mortgage Bankers Association’s (MBA) tracked 30-year, fixed-rate mortgage rate moving further downward, by one basis point from the previous week to a new record low of 3.29%, mortgage activity slowed, per the latest Weekly Application Survey. The Market Composite Index, representing purchasing and refinancing activities, decreased by 1.8% on a seasonally adjusted basis from one week earlier, with… Read More ›