Mortgage applications for home purchases declined nationwide last week as a long-anticipated hike in insurance premiums from the Federal Housing Administration took effect, according to data from the Mortgage Bankers Association through April 22. While applications for refinancing remained relatively steady — down 0.6 percent from the week earlier — purchase applications declined by 13.6 percent from the previous week, reaching their lowest level since February. That drop-off was driven by a 26.6 percent fall in government purchase applications, the MBA said. TRD [more]

A jump in U.S. mortgage application volume last week was fueled by consumer worries about a scheduled increase in insurance premiums from the Federal Housing Administration, the Mortgage Bankers Association said today. According to data from the MBA through April 15, mortgage applications for purchase rose 10 percent to their highest level since December on a week-over-week basis, while refinance applications rose by 2.7 percent from the week prior. TRD [more]

U.S. mortgage activity declined by 6.7 percent last week as interest rates continued to inch upward, according to data from the Mortgage Bankers Association through April 8. Both refinancing applications and applications for mortgages to assist with residential purchases declined in volume on a week-over-week basis, by 7.7 percent and 4.7 percent, respectively. Refinancing applications now account for just 60.3 percent of all U.S. mortgage activity, their lowest share since last May. The 30-year fixed-rate mortgage’s average contract interest rate, meanwhile, rose to 4.98 percent from 4.93 percent one week ago — its fourth straight weekly increase. TRD [more]

U.S. mortgage refinance applications declined by 6.2 percent last week to their lowest level since February, while mortgage applications for purchase rose by 6.7 percent to their highest level of the year, according to new data from the Mortgage Bankers Association through April 1. The MBA said the rise in purchase applications was spurred by a 10.3 percent spike in applications for government loans from the week prior, which brought government loan applications to their highest level since May 2010. Last week’s surge, said Michael Fratantoni, vice president of research and economics for the MBA, was likely due to borrowers who were “motivated to apply [for government loans] before a scheduled increase in
FHA insurance premiums that became effective last Friday.” TRD [more]

Refinance activity fell by 10.5 percent last week as mortgage rates rose, the Mortgage Bankers Association said today. Purchase activity was also down by 1.5 percent compared to one week earlier. According to Michael Fratantoni, vice president of research and economics for the MBA, the shift came “as global markets calmed following the recent crises in Japan and the Middle East.” The response to the global turmoil resulted in an increase in mortgage interest rates, and indeed, the average contract interest rate for the 30-year mortgage rose to 4.92 percent for the week that ended March 25, up from 4.8 percent in the week prior, and the interest rate for the 15-year mortgage rose to 4.16 percent, up from 4.02 percent one week ago. TRD [more]

U.S. mortgage activity rose 2.7 percent last week, according to data from the Mortgage Bankers Association through March 18. Both applications for refinancing and purchases were up by 2.7 percent week-over-week, with refinancing constituting 66.4 percent of all residential mortgage applications nationwide. Interest rates remained relatively constant, with the 30-year fixed-rate mortgage seeing a slight rate increase, to 4.8 percent from 4.79 percent one week earlier, and the 15-year mortgage seeing a decline, to 4.02 percent from 4.03 percent in the week prior. TRD

Fewer Americans applied for mortgages to purchase homes last week despite declining interest rates, according to new data from the Mortgage Bankers Association through March 11. Applications for purchases were down 4 percent compared to their level one week earlier and ended the week at 15.5 percent below their year-ago levels. Meanwhile, refinance applications were up 0.9 percent week-over-week, to a three-month high. TRD Comments

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U.S. mortgage application volume surged by 15.5 percent last week as interest rates hovered below 5 percent, according to data from the Mortgage Bankers Association through March 4. Applications for refinancing led the drive, with volume up 17.2 percent on a week-over-week basis, while applications for purchase rose 12.5 percent week-over-week to their highest level of the year, the MBA said today. TRD [more]

U.S. mortgage activity declined by 6.5 percent last week, with applications for both refinancings and purchases showing week-over-week declines, according to data from the Mortgage Bankers Association through Feb. 25. The drop in application volume comes despite interest rate declines: the 30-year fixed-rate mortgage averaged 4.84 percent last week, down from 5 percent the week prior, while the 15-year fixed-rate mortgage averaged 4.17 percent, down from 4.28 percent a week ago. But last week’s data was also unadjusted for the Presidents’ Day holiday, which may have affected application volume as well. Still, mortgage applications for purchases were 19.6 percent below their level during the same week last year. TRD

Mortgage application volume rose 13.2 percent last week as Middle East unrest pushed interest rates downward, according to the latest data from the Mortgage Bankers Association. During the week that ended Feb. 18, the number of Americans looking to refinance surged by 17.8 percent over the previous week, and the number of purchase applications rose by 5.1 percent. Meanwhile, the average contract interest rate for the 30-year fixed-rate mortgage declined to 5 percent, from 5.12 percent one week earlier. TRD [more]