Skip to main content

Mortgage applications rise in latest MBA Weekly Survey

NationalMortgageProfessional.com
Jul 22, 2009

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending July 17, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 528.9, an increase of 2.8 percent on a seasonally-adjusted basis from 514.4 one week earlier. On an unadjusted basis, the Index increased 2.9 percent compared with the previous week and increased 6.6 percent compared with the same week one year earlier. The Refinance Index increased 4.0 percent to 2089.7 from 2009.4 the previous week and the seasonally-adjusted Purchase Index increased 1.3 percent to 262.1 from 258.8 one week earlier. The four-week moving average for the seasonally-adjusted Market Index is down 1.0 percent. The four week moving average is down 1.7 percent for the Purchase Index, while this average is down 0.4 percent for the Refinance Index. The refinance share of mortgage activity increased to 55.5 percent of total applications from 54.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 4.8 percent from 5.0 percent of total applications from the previous week. The average contract interest rate for 30-year fixed-rate mortgages increased to 5.31 percent from 5.05 percent, with points increasing to 1.18 from 1.12 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed-rate mortgages increased to 4.80 percent from 4.59 percent, with points decreasing to 1.03 from 1.07 (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs increased to 6.50 percent from 6.47 percent, with points remaining unchanged at 0.11 (including the origination fee) for 80 percent LTV loans. For more information, visit www.mortgagebankers.org.
Published
Jul 22, 2009
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
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021