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Calculated Risk: MBA: Mortgage Applications Decreased in Weekly Survey

A top ranked economics and finance blog with a focus on the housing market

Joel-kan , Mortgage-bankers-association , Weekly-mortgage-applications , Mortgage-applications-decrease , Weekly-mortgage , Applications-survey , Market-composite-index , Refinance-index , Purchase-index , Calculated-risk , Conomics , Eal-estate

Mortgage App Volume Declines Across the Board

The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, fell back for the first time in three weeks during the week ended Aril 19 as interest rates continued to rise. &nbsp;The Index declined 2.7 percent on a seasonally adjusted basis from one week earlier and was 2.0 percent lower before adjustment. The Refinance Index decreased 6.0 percent from the previous week and was 3.0 percent higher than the same week in 2023. The refinance share of applications was also down, declining to 30.8 percent from 32.1 percent the previous week. [refiappschart] The seasonally adjusted Purchase Index decreased 1.0 percent, the fifth decline in the last six weeks. The unadjusted Purchase Index did increase fractionally but was 15 percent lower than during the same week one year ago. [purchaseappschart] “Mortgage rates continued to move higher last week, reaching their highest levels since late 2023 and putting a damper on applications activity. The 30-year fixed rate increased for the third consecutive week to 7.24 percent, the highest since November 2023,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “ Purchase applications declined, as home buyers delayed their purchase decisions due to strained affordability and low supply. T he ARM share of applications increased to 7.6 percent, consistent with the upward trend in rates, as buyers look to reduce their potential monthly payments.”

Joel-kan , Mortgage-bankers-association , Weekly-mortgage-applications , Market-composite-index , Refinance-index , Purchase-index , Deputy-chief ,

Home Loan Applications See 2.7% Drop

Home Loan Applications See 2.7% Drop
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Joel-kan , Mortgage-bankers-association , Market-composite-index , Refinance-index , Purchase-index ,

Mortgage Applications Down in High-Rate Environment

After a couple of weeks of increases, mortgage applications fell 2.7% from last week’s increase of 3.3% according to the latest MBA data.

Weekly-mortgage-applications , Mortgage-bankers-association , Weekly-mortgage-applications-survey , Market-composite-index , Refinance-index , Purchase-index ,

Calculated Risk

A top ranked economics and finance blog with a focus on the housing market

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Veterans Are Refinancing Their Homes

Amid elevated mortgage rates, Veterans Affairs-related refinancing helped spark an increase in home loan applications.

Bob-broeksmit , Sam-khater , Joel-kan , Freddie-mac , Chris-birk , Mortgage-bankers-association , Federal-reserve , Veteran-affairs-supported , Purchase-index , Year-treasury , Mortgage-insight , Veterans-united-home-loans

Calculated Risk: MBA: Mortgage Applications Increased in Weekly Survey

A top ranked economics and finance blog with a focus on the housing market

Joel-kan , Federal-reserve , Mortgage-bankers-association , Weekly-mortgage-applications , Mortgage-applications-increase , Weekly-mortgage , Applications-survey , Market-composite-index , Refinance-index , Purchase-index , Deputy-chief , Calculated-risk

Borrowers Pick Up Pace of Refinancing

Borrowers Pick Up Pace of Refinancing
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Joel-kan , Mortgage-bankers-association , Weekly-mortgage-applications , Federal-reserve , Market-composite-index , Purchase-index , Deputy-chief ,

Mortgage Applications Increase This Week

Mortgage Applications Increase This Week
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Mortgage-bankers-association , Weekly-mortgage-applications , Weekly-mortgage-applications-survey , Market-composite-index , Refinance-index , Purchase-index ,

Mortgage Applications Inch Upwards

Mortgage Applications Inch Upwards
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Joel-kan , Federal-reserve , Mortgage-bankers-association , Market-composite-index , Refinance-index , Purchase-index , Deputy-chief-economist ,