Tag Archive for interest rate

Mortgage Demand Rises After Holiday Week

December 12, 2013 Housing Market Comments Off on Mortgage Demand Rises After Holiday Week

According to the Mortgage Bankers Association’s Weekly Applications Survey, mortgage loan activity rose following a slow week that included the Thanksgiving holiday. The MBA’s Market Composite Index – which measures both purchase and refinance activity – found the number of people requesting applications for mortgage loans increased 1 percent from the previous week on a seasonally adjusted basis. Refinance demand rose 2 percent, bringing the refinance share of total mortgage activity to 65 percent. Purchase demand was up 1 percent. Also, the average contract interest rate for a 30-year fixed-rate mortgage increased last week. The average interest rate is now the highest it’s been since September. More here.

Mortgage Rate Rise Stalls Loan Demand

November 14, 2013 Housing Market Comments Off on Mortgage Rate Rise Stalls Loan Demand

According to the Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for a 30-year, fixed-rate mortgage spiked last week following consecutive weeks of decline. The increase slowed total mortgage application demand by 1.8 percent. Refinance activity was down 2 percent from one week earlier, but as a share of total mortgage loan volume remained steady. Also, the purchase index, which measures demand for loans to purchase homes, fell 1 percent. The MBA’s survey covers 75 percent of residential mortgage applications and has been conducted since 1990. More here.

Mortgage Demand Slides Despite Rate Drop

November 7, 2013 Housing Market Comments Off on Mortgage Demand Slides Despite Rate Drop

According to the Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for a 30-year fixed-rate mortgage with a conforming loan limit fell again last week. But despite another drop in the average interest rate, applications for home loans decreased 7 percent from the week before. Refinance activity tumbled 8 percent and demand for loans to purchase homes was down 5 percent. The refinance index is up slightly over the past two months, but the purchase index is down about 3 percent according to its 4-week moving average. The MBA’s survey has been conducted weekly since 1990 and covers 75 percent of all U.S. residential mortgage applications. More here.

Average Mortgage Rate Falls, Demand Surges

October 31, 2013 Housing Market Comments Off on Average Mortgage Rate Falls, Demand Surges

According to the Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell last week, reaching the lowest point since June. The drop in rates was the second in as many weeks and kicked off a surge in demand for home loans. The Market Composite Index, which measures both purchase and refinance volume, was up 6.4 percent from one week earlier, due to a 9 percent increase in refinance demand and a 2 percent spike in purchase loan activity. The survey, which covers 75 percent of all U.S. residential mortgage applications, has been conducted weekly since 1990. More here.

Refinancing Activity Continues To Rise

October 17, 2013 Housing Market Comments Off on Refinancing Activity Continues To Rise

According to the Mortgage Bankers Association’s Weekly Applications Survey, refinancing demand increased again last week, rising 3 percent after a 2.5 percent gain in the previous week’s survey. But despite the improvement, total mortgage application demand was nearly flat, registering just a 0.3 percent increase due to a decline in purchase loan activity. That decline was caused, in part, by the effects of the federal government’s shutdown. Mike Fratantoni, MBA’s vice president of research and economics, said the shutdown had a notable impact on the mortgage market, as applications for government programs dropped more than 7 percent to their lowest level since December 2007. The survey also found the average contract interest rate for 30-year fixed-rate mortgages up slightly from the week before. The MBA’s weekly survey covers more than 75 percent of all U.S. retail residential mortgage applications. More here.

Refinancing Demand Hits Two-Month High

October 10, 2013 Housing Market Comments Off on Refinancing Demand Hits Two-Month High

According to the Mortgage Bankers Association’s Weekly Applications Survey, the Refinance Index rose 2.5 percent last week, reaching its highest level since early August. The spike in refinancing activity is likely tied to decreases in the average mortgage rate after they hit highs for the year in September. In recent weeks, the average contract interest rate for 30-year fixed-rate mortgages has been falling and did again last week. The resulting increase in the Refinance Index pushed total mortgage application demand up 1.3 percent from one week earlier, despite a 1 percent dip in the Purchase Index. The MBA’s weekly survey covers more than 75 percent of U.S. residential mortgage applications. More here.


Mortgage Demand Increases As Rates Fall

September 26, 2013 Uncategorized Comments Off on Mortgage Demand Increases As Rates Fall

According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for mortgage loans was up 5.5 percent last week from the week before. The increase included a 7 percent spike in demand for purchase loans and a 5 percent gain in the number of people requesting applications to refinance their home. The Purchase Index was at its highest level since July. The survey also found the average contract interest rate for 30-year fixed-rate mortgages fell again last week for all loan types. But despite the drop in rates, the refinance share of total mortgage activity was unchanged from the previous week at 61 percent. The survey, which the MBA has been conducting weekly since 1990, covers 75 percent of all U.S. retail residential mortgage applications. More here.

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