Tag Archive for ‘refinancing’

Purchasing and Refinance Activity Thrive Amid Low Rates

As the Mortgage Bankers Association’s 30-year fixed-rate mortgage rate reached a new historic low of 3.3%, sliding down by 8 basis points from the previous week, its benchmark Market Composite Index increased by 8% from the previous week, on a seasonally adjusted basis. Purchase applications increased to the highest level in over 11 years and for the ninth consecutive week…. Read More ›

Home Purchasing Climbs for Eighth Straight Week

The latest round of the Mortgage Bankers Association’s (MBA) Weekly Application Survey showed an increase in its benchmark Market Composite Index for the week ending on June 5 by 9.3% from the previous week on a seasonally adjusted basis. Refinancing activity, which had been showing week-to-week declines since the second week of April, showed a sharp turnaround this week and… Read More ›

Uncertainty Looms as Economy is Poised for Recovery

The 30-year fixed-rate mortgage rate has been known to follow, albeit loosely, the 10-year Treasury yield. The latter is a widely tracked economic indicator and serves not only as a sign for the pulse of the U.S. economy, but also as a premium for pricing myriad financial instruments, upon which characteristics specific to the financial instrument are added. Throughout the… Read More ›

Home Purchasing Continues Gains

The latest round of the Mortgage Bankers Association’s (MBA) Weekly Application Survey showed a decline in its benchmark Market Composite Index for the week ending on May 29 by 3.9% from the previous week on a seasonally adjusted basis. Refinancing activity, fell sharply from the previous week by 8.6%. However, purchase application activity rose by 5.3%. Continuing the trend that… Read More ›

Mortgage Activity Buoyed by Growth in Purchasing

The latest home buying and refinancing data have shown an increase in overall mortgage activity, as indicated by the Mortgage Bankers Association’s Weekly Application Survey. The benchmark Market Composite Index increased by 2.7% on a seasonally adjusted basis from one week earlier. The Primary Mortgage Market Survey’s interest rate hovered 2 basis points above the historical low of 3.40% reached… Read More ›

Purchasing Activity Recovers from April Lows

Current mortgage activity, as indicated by the Mortgage Bankers Association’s latest Weekly Application Survey, indicates a slight rise in purchasing activity and slight decline in refinancings of existing home loans, each by about 6% on a seasonally adjusted basis. Overall, the Market Composite Index decreased by about 2.6%. The contract rate as determined by the Primary Mortgage Market Survey slid… Read More ›

Muted Fervor in the Final Weeks of Spring Homebuying

Since its previous week’s reading, which also marked a record low in the series, the Mortgage Bankers Association’s 30-year fixed-rate mortgage contract rate edged up by 3 basis points to 3.43%. The Market Composite Index, measuring mortgage loan application volume for purchases and refinancings, increased by 0.3% on a seasonally adjusted basis from one week prior. The MBA cites the… Read More ›

Refinancing Activity Soars

The Mortgage Bankers Association’s Weekly Application Survey shows a weekly increase in the Market Composite Index by 15.1% on a seasonally adjusted basis. The Refinance Index soared 26.0% from the previous week and the Purchase index decreased 2.7%. Looking at the Refinance series since its inception, the latest 10-week sprint of over 160% is the largest since January 2009 when… Read More ›

Mortgage Purchase Activity Rises

The latest tally of the Mortgage Bankers Association’s (MBA) Weekly Application Survey shows a slight decline in the market composite index, consisting of both purchase and refinancing loan activity, of 1.5% from two weeks earlier on a seasonally adjusted basis for the week ending January 3, 2020. The purchase index rose by 5%, while the refinance index fell by 8%,… Read More ›