Mortgage application volume declined by 9.5 percent nationwide last week as interest rates remained above the key 5-percent threshold, according to data from the Mortgage Bankers Association through Feb. 11. Refinance applications declined the most, by 11.4 percent, to their lowest level since early July 2009. Purchase applications dropped by 5.9 percent week-over-week. The average contract interest rate for the 30-year fixed-rate mortgage remained relatively steady, at 5.12 percent last week. The 15-year mortgage’s average rate rose to 4.34 percent — its highest since last April. TRD [more]

Fewer Americans applied for mortgages last week as interest rates jumped to their highest levels since last spring, according to today’s data from the Mortgage Bankers Association. Refinance applications in the U.S. declined by 7.7 percent on a week-over-week basis, while purchase applications fell by 4.8 percent from the previous week, bucking the usual trend at the beginning of the spring buying season. According to Michael Fratantoni, vice president of research and economics at the MBA, that’s because mortgage rates are rising on the heels of better-than-expected economic indicators. TRD Comments

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Mortgage rates rose once again last week, driving mortgage loan application volume down, particularly in the refinance sector of the market, according to the latest data from the Mortgage Bankers Association. For the week that ended Dec. 17, refinance applications declined 24.6 percent week-over-week — their sixth weekly decline in a row — to their lowest volume since April. Purchase applications, meanwhile, declined by 2.5 percent from the previous week.  TRD Comments

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Mortgage activity declined by 2.7 percent last week as interest rates continued to rise, according to the latest weekly survey from the Mortgage Bankers Association. Refinance loan application volume was down 0.7 percent — its fifth consecutive weekly decline — while purchase applications dropped by 5 percent week-over-week. Meanwhile, the 30-year fixed-rate mortgage saw its average contract interest rate reach 4.84 percent, up from 4.66 percent one week ago. The 15-year mortgage reached an interest rate of 4.21 percent, up from 3.98 percent one week ago. TRD [more]

Mortgage applications for purchases spiked 14 percent during the week that ended Nov. 19, to their highest level since May, according to the latest weekly survey from the Mortgage Bankers Association. According to Michael Fratantoni, vice president of research and economics for the MBA, “the increase in purchase applications last week aligns with other incoming data suggesting that consumers are feeling somewhat more confident with their financial situation.” TRD [more]

Mortgage application volume fell significantly last week in response to a sharp uptick in interest rates, according to a report from the Mortgage Bankers Association for the week that ended Nov. 12. Overall, mortgage activity declined by 14.4 percent week-over-week, with refinancing applications down 16.5 percent to their lowest level since July and purchasing applications down 5 percent during the same period. TRD [more]

Refinance activity surged 21 percent last week as mortgage rates continued to set new record lows, according to the latest data from th [more]

Mortgage purchasing applications rose 6.3 percent last week to their highest level since May, but activity was 40 percent below its level one year ago and still has yet to return to the levels seen prior to the expiration of the federal homebuyer tax credit in June, according to the latest survey from the Mortgage Bankers Association, for the week that ended Sept. 3. Meanwhile, refinancing applications dropped — by 3.1 percent — for the first time in six weeks as mortgage rates ticked upward after weeks of declines. Still, said Michael Fratantoni, vice president of research and economics for the MBA, “the level of applications to refinance remains close to recent highs, as historically low mortgage rates continue to draw borrowers into the market.” The 30-year fixed-rate mortgage registered a 4.5 percent average contract interest rate, up from the record-low 4.43 percent last week, however, points decreased to 0.96 from 1.34 for 80 percent loan-to-value ratio loans, meaning the effective interest rate decreased week-over-week. Similarly, the interest rate for the 15-year fixed-rate mortgage increased to 4 percent from 3.88 percent week-over-week but effectively declined since points decreased to 0.87 from 1.45 for 80 percent LTV loans. TRD

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With mortgage interest rates lately hitting record lows week after week, loan application volume, particularly amongst those seeking to refinance, is picking up. Refinancing applications rose 2.8 percent, reaching another 15-month high, in the week that ended Aug. 27, according to a new report from the Mortgage Bankers Association. Purchasing applications also increased by 1.8 percent, though they were down 37 percent over one year ago. Meanwhile, the 30-year fixed-rate mortgage registered a drop in interest rates to 4.43 percent from 4.55 percent the week before. Its 15-year counterpart saw a similar decline, to 3.88 percent from 3.91 percent. Michael Fratantoni, vice president of research and economics for the MBA, predicted that the relatively low volume of purchase applications foreshadows a rough couple of months ahead in the housing market. “The sharp decline in MBA’s Purchase Application index in May had provided a clear leading indicator of the
drops in new and existing home sales that were reported for June and July,” he said. “Despite the slight increase in purchase activity in the past week, the continued low level of purchase applications indicates we are unlikely to see an increase in new home sales reported for August or existing home sales reported for September.” TRD

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Mortgage loan application volume rose 4.9 percent nationwide last week as borrowers continued in their scramble to refinance at record low interest rates, according to the latest data from the Mortgage Bankers Association. With the 30-year fixed-rate mortgage at a new low, 4.55 percent, down from 4.6 percent last week, refinancing activity rose another 5.7 percent from the previous week to its highest level since last May. The volume of refinancing applications has risen a total of 26 percent over the past four weeks. Meanwhile, purchasing applications inched slightly upward by 0.6 percent week-over-week. “With rates this low, many borrowers who refinanced in the past two years may well have an incentive to refinance again, and this is likely increasing refi application activity,” said Michael Fratantoni, vice president of research and economics for the MBA. TRD

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