Tag Archive for ‘refinancing’

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 ›

Refinance Poised for Further Rate Declines

The latest results from the Mortgage Bankers Association’s (MBA) Weekly Application Survey for the week ending September 4 show an increase of 2.9% in the Market Composite Index from the previous week on a seasonally adjusted basis. Purchasing and refinancing activity increased from the previous week by 2.6% and 3%, respectively. MBA’s tracked contract rate of the 30-year fixed-rate mortgage… Read More ›

Mortgage Application Activity Tapers in August

The last weeks in August finished with subdued mortgage activity, per the Mortgage Bankers Association’s latest Weekly Application Survey. However, demand remains strong: Overall mortgage activity was 35% higher than what it was the same week one year ago. For the week ending August 28, 2020, the Market Composite Index decreased 2% from one week prior on a seasonally adjusted… Read More ›

Amid Record Low Rates, Refinancing Flourishes

Over the last two weeks, the Mortgage Bankers Association’s tracked 30-year fixed-rate mortgage average rate fell by 14 basis points to 3.06%, a new record low in the series. At the same time, the results from its Weekly Application Survey show both weekly and year-over-year percentage increases in purchasing and refinancing activities. On a seasonally adjusted basis, purchasing activity increased… Read More ›

Mortgage Applications Decrease Slightly

The Mortgage Bankers Association’s (MBA) latest Weekly Application shows a slight decrease in applications for the week ending July 24, 2020. The Market Composite Index decreased by 0.8% from the previous week on a seasonally adjusted basis. Refinancing activity, one of its determinants, decreased by 0.4% from the previous week, while purchasing activity decreased slightly more by 1.5%. The MBA’s… Read More ›

Adjustable-rate Mortgage Activity Increases

The Mortgage Bankers Association’s (MBA) latest Weekly Application shows an uptick in applications for the week ending July 17, 2020. The Market Composite Index increased by 4.1% from the previous week on a seasonally adjusted basis. Refinancing activity showed continued fervor, increasing by 5.3% from the previous week, while purchasing activity increased moderately by 1.8%. The MBA’s 30-year fixed-rate mortgage… Read More ›

Home Refinancing Surges

The Mortgage Bankers Association’s (MBA) latest Weekly Application shows an uptick in applications for the week ending July 10, 2020. The Market Composite Index increased by 5.1% from the previous week on a seasonally adjusted basis, owing mainly to the surge in refinancing activity of 11.9% compared to a week before. The increase was partially offset by the slowdown of… Read More ›

Mortgage Purchasing Reaches Highest Level in over 10 Years

The Mortgage Bankers Association’s (MBA) latest Weekly Application shows an uptick in applications for the week ending July 3, 2020. The Market Composite Index increased by 2.2% from the previous week on a seasonally adjusted basis and its constituent Purchasing and Refinancing indices increased by 5.3% and 0.4%, respectively. The MBA’s 30-year fixed-rate mortgage rate fell to a new record… Read More ›

Correlation Between Low Housing Supply and Purchase Loan Size

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 ›