Skip to main content

Lenders One data shows shifts in loan products

National Mortgage Professional
Dec 17, 2008

Mortgage applications increase, driven by refinances in latest MBA Weekly SurveyMortgagePress.comMortgage Bankers Association, Weekly Mortgage Applications Survey, Market Composite Index, Refinance Index, FHA The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Dec. 12, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 841.4, an increase of 2.9 percent on a seasonally adjusted basis from 817.7 one week earlier, which was revised from 796.8. On an unadjusted basis, the Index increased 2.9 percent compared with the previous week and was up 37.3 percent compared with the same week one year earlier. The Refinance Index increased 6.5 percent to 4156.0 from the previous week and the seasonally adjusted Purchase Index decreased 4.5 percent to 286.1 from one week earlier. The Conventional Purchase Index decreased 6.7 percent while the Government Purchase Index (largely FHA) was virtually unchanged. The four week moving average for the seasonally adjusted Market Index is up 17.9 percent. The four week moving average is up 3.2 percent for the seasonally adjusted Purchase Index, while this average is up 28.1 percent for the Refinance Index. The refinance share of mortgage activity increased to 76.9 percent of total applications from 74.3 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 1.1 percent of total applications from the previous week. The average contract interest rate for 30-year fixed-rate mortgages decreased to 5.18 percent from 5.44 percent, with points decreasing to 1.13 from 1.24 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed-rate mortgages decreased to 4.93 percent from 5.08 percent, with points increasing to 1.34 from 1.26 (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs decreased to 6.63 percent from 6.76 percent, with points increasing to 0.3 from 0.26 (including the origination fee) for 80 percent LTV loans. For more information, visit www.mortgagebankers.org.
Published
Dec 17, 2008
FormFree Enters Deal To Offer Products to Lenders One Members

Mortgage Cooperative Hopes Automated Borrower Verification Tools Will Enhance Customer Experience

Industry News
Aug 03, 2021
AHP Servicing Names Charles Halko Jr. CFO

Brings 30-Years Of Experience to Chicago-Based Servicer

Industry News
Aug 03, 2021
Ready Capital Announces Deal To Acquire Red Stone

Real Estate Finance Company Expands In Multi-Family Affordable Housing Sector

Industry News
Aug 03, 2021
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021