The Real Deal Miami

Mortgage application volume increases

December 09, 2009 02:29PM

The number of mortgage applications filed this week increased nationwide, as forecasts predict the rate of U.S. mortgage loan delinquencies will improve beginning in 2010, according to two recent reports.
Mortgage loan application volume is on the rise, according to seasonally adjusted data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey covering the week ending Dec. 4. The MBA’s Market Composite Index, which measures mortgage loan applications, saw its volume increase 8.5 percent over the prior week, reaching a two-month high, according to Reuters. Meanwhile the survey’s Refinance Index, which measures the number of refinance applications filed, increased 11.1 percent over the previous week.
This news follows yesterday’s report from credit and information management firm TransUnion, which projected that the rate of national mortgage loan delinquencies will decline to 6.39 percent by the end of 2010, a 3 percent decline from the projected end-of-2009 percentage. TRD