May 15 2018, 9:23PM. Mortgage activity slowed again last week. The Mortgage Bankers Association said its Market Composite Index, which measures the volume of mortgage loan applications, was down on a seasonally adjusted basis by 2.7 percent during the week ended May 11 compared to a week earlier.
The refinance index shot up 47% from the previous week to its highest level since 2016. The purchase index jumped 10%. The refinance share of mortgage activity accounted for 49.8% of all applications.
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MBA’s seasonally adjusted index on mortgage refinancing activity rose 5.1 percent to 1,502.6 in the week ended sept. 1. This was the strongest since 1,526.8 in the week of June 16.
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Figure 1: Allegheny County Application and Origination Activity Figure 2: Allegheny County Originations by Loan Purpose The other major component of loan activity is home purchases. This volume, while increasing in the early 1990s, was relatively flat until 2006, which began a 5-year period of decline and a 48 percent drop in volume.
Mortgage application volume fell 3.3% on an adjusted basis during the week ended May 24, as the average rate for a 30-year fixed rate mortgage remained flat at 4.33%. of the five surveyed loan.
Mortgage Volume Slows as Applications Decline. The average contracted rate on a fixed 30-year mortgage rose to 4.8% for the week from 4.77% the previous week on an 80% loan-to-value mortgage. Interest rates on an average 15-year fixed rate loan declined to 4.12% from 4.16% the prior week. Rates are expected to remain low through.
Mortgage application volume was flat during. purchase activity was almost 10 percent higher than a year ago. “A.
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Refinance activity was 49.4 percent of total mortgage applications for the week ending Jan. 20, according to MBA, down from 50.0 percent the previous week. The percentage that week was the lowest since July 2015. MBA’s survey for this data covers more than 75 percent of all U.S. retail residential mortgage applications.
WASHINGTON, D.C. (August 29, 2018) – mortgage applications decreased 1.7 percent from one week earlier, according to data from the mortgage bankers association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 24, 2018.. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.7 percent on a seasonally adjusted basis from one week earlier.
Total mortgage application volume was essentially flat last week, up just 0.3 percent on a seasonally. But without a major move in rates, applications to refinance a home loan, which are most.
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