Showing posts with label applications. Show all posts
Showing posts with label applications. Show all posts
Wednesday, February 29, 2012
Wednesday, February 22, 2012
Thursday, February 16, 2012
Mortgage applications down as purchase demand falls (Reuters)
NEW YORK (Reuters) – Applications for home mortgages slipped last week, pulled lower by a steep drop in demand for home purchases, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, dipped 1.0 percent in the week ended Feb 10.
The gauge of loan requests for home purchases tumbled 8.4 percent, though the index refinancing applications edged up 0.8 percent.
The refinance share of total mortgage activity also rose to 81.1 percent of applications from 80.5 percent the week before.
Fixed 30-year mortgage rates averaged 4.08 percent, up 3 basis points from 4.05 percent.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting By Leah Schnurr; Editing by Diane Craft)
Thursday, February 9, 2012
Mortgage applications jump on refi demand: MBA (Reuters)
NEW YORK (Reuters) – Applications for home mortgages jumped last week, fueled by increased demand for refinancing as interest rates fell, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 7.5 percent in the week ended Feb 3.
The MBA's seasonally adjusted index of refinancing applications climbed 9.4 percent, while the gauge of loan requests for home purchases was nearly flat, edging up just 0.1 percent.
The refinance share of total mortgage activity also increased to 80.5 percent of applications, from 80.0 percent.
Fixed 30-year mortgage rates averaged 4.05 percent, down 4 basis points from 4.09 percent the week before.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting By Leah Schnurr; Editing by Leslie Adler)
Wednesday, February 1, 2012
Mortgage applications dipped last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages slipped last week, even as interest rates also eased, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 2.9 percent in the week ended Jan 27.
The MBA's seasonally adjusted index of refinancing applications slipped 3.6 percent, while the gauge of loan requests for home purchases gave up 1.7 percent.
The refinance share of total mortgage activity eased to 80.0 percent of applications from 81.3 percent.
Although application volume fell for the week, refinance volume remains high with survey respondents saying the government's expanded Home Affordable Refinance Program (HARP) contributed to about 10 percent of activity, MBA said.
The Obama administration recently revamped HARP to make it easier for underwater homeowners with government-backed loans to refinance their mortgages.
Fixed 30-year mortgage rates averaged 4.09 percent, down 2 basis points from 4.11 percent the week before.
MBA said the decline in mortgage rates came as longer-term Treasuries rates dropped after the Federal Reserve said it would keep likely rates on hold until late 2014, longer than the market had expected.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting By Leah Schnurr; Editing by Diane Craft)
Thursday, January 26, 2012
Mortgage applications retreated last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for home mortgages retreated last week, giving back some of the previous week's surge as interest rates rose, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 5 percent in the week ended Jan 20.
The index had soared more than 20 percent the previous week.
The MBA's seasonally adjusted index of refinancing applications slipped 5.2 percent, while the gauge of loan requests for home purchases was off 5.4 percent. The refinance share of total mortgage activity decreased to 81.3 percent of applications from 82.2 percent.
Fixed 30-year mortgage rates averaged 4.11 percent, up 5 basis points from 4.06 percent.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting By Leah Schnurr; Editing by Leslie Adler)
Friday, January 13, 2012
Mortgage applications picked up last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages rose in the first week of the year as demand for both purchases and refinancing perked up, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 4.5 percent in the week ended Jan 6.
The MBA's seasonally adjusted index of refinancing applications gained 3.3 percent, while the gauge of loan requests for home purchases climbed 8.1 percent.
The refinance share of total mortgage activity eased to 80.8 percent of applications from 81.9 percent the previous week.
The improvement in demand came even as interest rates rose. Fixed 30-year mortgage rates averaged 4.11 percent in the week, up 4 basis points from 4.07 percent.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting By Leah Schnurr; Editing by Leslie Adler)
Wednesday, January 11, 2012
Mortgage applications picked up last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages rose in the first week of the year as demand for both purchases and refinancing perked up, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 4.5 percent in the week ended Jan 6.
The MBA's seasonally adjusted index of refinancing applications gained 3.3 percent, while the gauge of loan requests for home purchases climbed 8.1 percent.
The refinance share of total mortgage activity eased to 80.8 percent of applications from 81.9 percent the previous week.
The improvement in demand came even as interest rates rose. Fixed 30-year mortgage rates averaged 4.11 percent in the week, up 4 basis points from 4.07 percent.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting By Leah Schnurr; Editing by Leslie Adler)
Sunday, December 11, 2011
Mortgage applications jumped last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages jumped last week, recouping the previous week's steep decline as interest rates continued to fall, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, spiked 12.8 percent in the week Dec 2.
The MBA's seasonally adjusted index of refinancing applications also jumped, gaining 15.3 percent, while the gauge of loan requests for home purchases rose 8.3 percent.
"Applications increased significantly as mortgage rates dropped to their lowest levels in about two months," Michael Fratantoni, MBA's vice president of research and economics, said in a statement.
"In particular, refinance applications increased sharply, with some lenders seeing refinance volume double. Despite this surge, aggregate refinance activity is still below levels reported two weeks ago."
The refinance share of total mortgage activity gained to 76.0 percent of applications from 73.9 percent the week before.
Fixed 30-year mortgage rates averaged 4.18 percent, down 3 basis points from 4.21 percent the week before.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting By Leah Schnurr; Editing by Diane Craft)
(This story is corrected to clarify the first paragraph to show comparison is to "previous week", not "last week")
Saturday, December 3, 2011
Mortgage applications tumbled last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for home mortgages slumped for a third week in a row last week, hit by a drop in demand for refinancing, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, tumbled 11.7 percent in the week ended November 25.
The MBA's seasonally adjusted index of refinancing applications dropped 15.3 percent, the biggest decrease in more than a month. The gauge of loan requests for home purchases dipped 0.8 percent.
The refinance share of total mortgage activity eased to 73.9 percent of applications from 75.9 percent.
Fixed 30-year mortgage rates averaged 4.21 percent in the week, down 2 basis points from 4.23 percent the week before.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting by Leah Schnurr; Editing by Leslie Adler)
Wednesday, November 9, 2011
Mortgage applications jump on refinancing demand: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages surged last week, driven by increased refinancing demand as interest rates dropped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, climbed 10.3 percent in the week ended Nov 4.
"Treasury rates dropped last week, as renewed turmoil in Europe once again led to a flight to quality, and 30-year mortgage rates dropped to their second lowest level of the year," Mike Fratantoni, MBA's vice president of research and economics, said in a statement.
The MBA's seasonally adjusted index of refinancing applications rose 12.1 percent to its highest level in a month. Fratantoni said some lenders saw even bigger increases. Fixed 30-year mortgage rates dropped 9 basis points to average 4.22 percent.
The refinance share of total mortgage activity rose, after declining for three weeks, to 78.6 percent of applications from 77.1 percent the week before.
The gauge of loan requests for home purchases gained 4.8 percent.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting by Leah Schnurr; Editing by Leslie Adler)
Saturday, November 5, 2011
Mortgage applications barely up last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages were little changed last week as purchase demand improved but refinancing activity stagnated, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, edged up 0.2 percent in the week ended Oct 28.
The MBA's seasonally adjusted gauge of loan requests for home purchases rose 1.8 percent, while the index of refinancing applications was off 0.2 percent.
The refinance share of total mortgage activity dipped to 77.1 percent of applications from 77.3 percent the week before, the fourth straight week of declines.
Fixed 30-year mortgage rates averaged 4.31 percent, down 2 basis points from 4.33 percent.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting by Leah Schnurr; Editing by Leslie Adler)
Saturday, October 22, 2011
Mortgage applications slumped last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages tumbled nearly 15 percent last week as demand for both refinancing and purchases evaporated, while interest rates climbed, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, dropped 14.9 percent in the week ended Oct 14.
The MBA's seasonally adjusted index of refinancing applications slid 16.6 percent, while the gauge of loan requests for home purchases gave up 8.8 percent.
The refinance share of total mortgage activity fell to 77.6 percent of applications from 79.1 percent the week before.
Fixed 30-year mortgage rates averaged 4.33 percent, up 8 basis points from 4.25 percent.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting by Leah Schnurr; Editing by Diane Craft)
Thursday, October 13, 2011
Mortgage applications rose last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages rose last week as demand grew for both purchases and refinancing even as interest rates rose, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, increased 1.3 percent in the week ended Oct 7.
The MBA's seasonally adjusted index of refinancing applications was up 1.3 percent, while the gauge of loan requests for home purchases gained 1.1 percent. The refinance share of mortgage activity was unchanged from the previous week at 79.1 percent of total applications.
Fixed 30-year mortgage rates averaged 4.25 percent, jumping 7 basis points from 4.18 percent the week before.
The average loan size for home purchases in September was $210,863, down from $212,736 in August. The average loan size for refinancing was $237,632 last month compared to $241,323 in August.
(Reporting by Leah Schnurr; Editing by Diane Craft)
Sunday, October 2, 2011
Mortgage applications rose last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages rose last week, reflecting a jump in demand for home loan refinancing as mortgage rates dropped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 9.3 percent in the week ended Sept 23.
The MBA's seasonally adjusted index of refinancing applications rose 11.2 percent, while the gauge of loan requests for home purchases rose 2.6 percent.
Fixed 30-year mortgage rates averaged 4.25 percent in the week, down 4 basis points from 4.29 percent the week before.
"Mortgage rates declined last week, at least partially in response to the Fed's announcement that they would shift their portfolio toward longer-term Treasury securities, and that they would resume buying mortgage-backed securities," Mike Fratantoni, MBA's Vice President of Research and Economics, said in a statement.
The U.S. Federal Reserve last week unveiled a new stimulus plan to support the economy's recovery and help the mortgage market.
U.S. mortgage rates are linked to yields on U.S. Treasuries and mortgage-backed securities.
(Reporting by Julie Haviv; Editing by Diane Craft)
Thursday, September 29, 2011
Mortgage applications rose last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages rose last week, reflecting a jump in demand for home loan refinancing as mortgage rates dropped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 9.3 percent in the week ended Sept 23.
The MBA's seasonally adjusted index of refinancing applications rose 11.2 percent, while the gauge of loan requests for home purchases rose 2.6 percent.
Fixed 30-year mortgage rates averaged 4.25 percent in the week, down 4 basis points from 4.29 percent the week before.
"Mortgage rates declined last week, at least partially in response to the Fed's announcement that they would shift their portfolio toward longer-term Treasury securities, and that they would resume buying mortgage-backed securities," Mike Fratantoni, MBA's Vice President of Research and Economics, said in a statement.
The U.S. Federal Reserve last week unveiled a new stimulus plan to support the economy's recovery and help the mortgage market.
U.S. mortgage rates are linked to yields on U.S. Treasuries and mortgage-backed securities.
(Reporting by Julie Haviv; Editing by Diane Craft)
Saturday, September 17, 2011
Mortgage applications rose last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages rose last week for the first time in a month as interest rates tumbled even further, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 6.3 percent in the week ended September 9 compared to the week before.
The MBA's seasonally adjusted index of refinancing applications gained 6.0 percent, while the gauge of loan requests for home purchases climbed 7.0 percent.
The refinance share of mortgage activity rose to 77.3 percent of total applications from 77.1 percent.
(Reporting by Leah Schnurr; Editing by Diane Craft)
Wednesday, August 31, 2011
Mortgage applications tumbled last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for U.S. home mortgages tumbled last week as demand for refinancing sagged for the second week in a row, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, dropped 9.6 percent in the week ended Aug 26.
The MBA's seasonally adjusted index of refinancing applications slumped 12.2 percent, while the gauge of loan requests for home purchases edged up 0.9 percent after setting a 15-year low set the week before.
"Refinance application volume declined for a second week from recent highs, despite rates staying near a 10-month low, while purchase volume remained near 15-year lows," Mike Fratantoni, MBA's vice president of research and economics, said in a statement.
The refinance share of mortgage activity decreased to 77.8 percent of total applications from 79.8 percent.
Fixed 30-year mortgage rates averaged 4.32 percent, down from 4.39 percent the week before.
(Reporting by Leah Schnurr; Editing by Leslie Adler)
Home mortgage applications fall to 15-year low (AP)
By DEREK KRAVITZ, AP Real Estate Writer Derek Kravitz, Ap Real Estate Writer – Wed Aug 24, 2:42 pm ET
WASHINGTON – Mortgage applications to purchase a home fell last week to a 15-year low, despite the lowest mortgage rates in decades.
Many potential buyers are holding off because they are worried about job security and fear the economy could slip back into another recession.
The Mortgage Bankers Association said Wednesday that an index measuring mortgage applications, which are adjusted for seasonal factors, fell 2.4 percent last week from the previous week. Home mortgage applications plunged 5.7 percent to its lowest level since December 1996.
"Another week of volatile markets and rampant uncertainty regarding the economy kept prospective homebuyers on the sidelines," said Mike Fratantoni, the trade group's vice president of research and economics.
The share of mortgage applications used for refinancing has risen to nearly 80 percent of the market, up from 70 percent just three weeks ago.
Few expect the lowest mortgage rates in decades to energize the depressed housing market. Over the past year, the average rate on the 30-year fixed mortgage has been below 5 percent for all but two weeks. Last week, it hit a four-decade low of 4.15 percent.
Yet sales remain unhealthy. Sales of new and previously occupied homes both fell in July. Sales of new homes are on pace to finish the year as the lowest on records dating back to 1963. The pace of re-sales is shaping up to be the worst in 14 years.
Home prices haven't fared much better. Since the peak of the housing boom in 2007, homes have lost nearly a third of their value.
The weak housing market has been a drag on the economy. And without more jobs, the housing market is unlikely to recover any time soon.
Roughly 14 million Americans are unemployed. The economy created just 117,000 net jobs in July, barely enough to keep up with the population growth. It needs to generate twice as many to make a noticeable dent in the unemployment rate, which was 9.1 percent last month.
The weekly survey covers more than half of all U.S. residential mortgage applications.
Thursday, August 11, 2011
Mortgage applications rose last week: MBA (Reuters)
NEW YORK (Reuters) – Applications for home mortgages rose last week as interest rates fell to their lowest level this year, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 21.7 percent in the week ended August 5.
The MBA's seasonally adjusted index of refinancing applications rose 30.4 percent to its highest level this year, while the gauge of loan requests for home purchases fell 0.9 percent.
The refinance share of mortgage activity increased to 75.6 percent of total applications from 70.1 percent the previous week.
Fixed 30-year mortgage rates averaged 4.37 percent in the week, down 8 basis points from the week before. (Reporting by Alexandra Alper; Editing by Diane Craft)
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