Skip to main content

MBA Weekly Survey: Mortgage apps increase

NationalMortgageProfessional.com
Aug 26, 2009

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Aug. 21, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 7.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6.3 percent compared with the previous week and 34.1 percent compared with the same week one year earlier. The Refinance Index increased 12.7 percent from the previous week, the third increase in the last four weeks. The seasonally adjusted Purchase Index increased 1.0 percent from one week earlier, solely boosted by increased demand for government loans. This marks the fourth consecutive weekly gain - the first time this has happened since March, when fixed mortgage rates first dropped and stayed below five percent. The four week moving average for the seasonally adjusted Market Index is up 3.5 percent. The four week moving average is up 1.7 percent for the seasonally adjusted Purchase Index, while this average is up 4.8 percent for the Refinance Index. The refinance share of mortgage activity increased to 56.5 percent of total applications from 53.3 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged from the previous week at 6.5 percent of total applications. The average contract interest rate for 30-year fixed-rate mortgages increased to 5.24 percent from 5.15 percent, with points increasing to 1.07 from 0.98 (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 4.58 percent from 4.52 percent, with points increasing to 1.18 from 0.93 (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs increased to 6.74 percent from 6.66 percent, with points increasing to 0.17 from 0.07 (including the origination fee) for 80 percent LTV loans. For more information, visit www.mortgagebankers.org.
Published
Aug 26, 2009
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
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021