The last month of mortgage purchasing and refinancing activities, as reflected in the Mortgage Bankers Association’s (MBA) latest weekly application surveys1, shows a rise in purchase applications and a decrease in refinancing as compared to the prior month’s activity. The 30-year fixed-rate mortgage rate increased, averaging close to 3.15 percent for the month, and was 3.2 percent in the latest… Read More ›
Tag Archive for ‘mortgage bankers association’
Share of New Homes With 4 or More Bedrooms Jumped in 2020
The U.S. Census Bureau Survey of Construction’s (SOC) 2020 estimates of the shares of the number of bedrooms in new single-family homes showed a sharp upswing in the percentage of new homes started with 4 or more bedrooms, unlike in prior recent years. The most recent SOC data show the shares in the varying number of bedrooms in new homes… Read More ›
Real Estate Market Values Spike in the Second Quarter
The latest Federal Reserve Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that in the second quarter of 2021 the aggregate market value of all owner-occupied real estate in the United States registered the largest quarterly increase in the last 21 years of data. From $33.8 trillion in the first quarter of 2021, real estate… Read More ›
Mortgage Refinancing Activity Tapers in Latest Month
The last four weeks’ mortgage purchasing and refinancing activities, as reflected in the Mortgage Bankers Association’s (MBA) latest weekly application surveys, shows a general withdrawal of refinancing and a very slight increase in purchasing from the prior month. The 30-year fixed-rate mortgage rate hovered 3 basis points above 3 percent, consistently, for the last three weeks. In the latest week,… Read More ›
MBA Data Indicates Large Declines for Past Due and Seriously Delinquent Loans
According to the Mortgage Bankers Association’s (MBA) fourth quarter National Delinquency Survey (NDS), on a seasonally adjusted basis, the percentage of loans past due decreased from 6.38% in the first quarter to 5.47%. State-level data of the past due loan category reveal that all states had reduced their count of past-due loans. The states that experienced the largest numerical declines… Read More ›
Refinancing Stirs in Latest Month to Highest Level Since February
In the past month, total mortgage activity, as measured by the Mortgage Bankers Association’s (MBA) Market Composite Index, was supported by refinancing, recovering from the relatively lower levels that were characteristic of the months prior. The gain in refinancing is owed to a sizable drop in the 30-year fixed mortgage, which decreased by 10 basis points to 3.01 percent for… Read More ›
Easing Credit Conditions in the Second Quarter
The latest results of the Federal Reserve’s Board’s Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS), showed that the market for commercial real estate financing (CRE loans) and residential real estate (RRE) financing eased compared to the first quarter. While the demand-side market participants for CRE loans are businesses, those of RRE loans are households. The Mortgage Bankers… Read More ›
Slight Rebound for Mortgage Demand
Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate was showing a greater constancy than the volatility it had displayed in the prior months, staying between 3.10 percent and 3.20 percent, and dropped in the latest week, falling to 3.09 percent. Similarly, the MBA’s Market Composite Index sharply rebounded last week by 16 percent from lower activity levels for most of the month. The rebound, as the MBA cites, may have… Read More ›
Purchase Mortgages Show Year-over-Year Decline
After three straight weeks of declines, mortgage activity in the latest week rebounded, as shown in the Mortgage Bankers Association’s latest Weekly Application Surveys, increasing over 4 percent last week. Both purchase and refinance applications were up, including a 5.5 percent gain in refinances. The jump in refinances was the result of the 30-year fixed rate falling for the third… Read More ›
Real Estate Market Values Surge in the First Quarter
The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that, in the first quarter of 2021, the aggregate market value of all owner-occupied real estate in the United States registered the largest numerical quarterly increase in the last 20 years’ worth of data. From $32.84 trillion in the fourth… Read More ›