MBA: App volume decreases 4.5 pecent from previous week – NMP Skip to main content

MBA: App volume decreases 4.5 pecent from previous week

NationalMortgageProfessional.com
Nov 25, 2009

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Nov. 20, 2009. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5.8 percent compared with the previous week. The Refinance Index decreased 9.5 percent from the previous week and the seasonally adjusted Purchase Index increased 9.6 percent from one week earlier. The unadjusted Purchase Index increased 4.9 percent compared with the previous week and was 13.7 percent lower than the same week one year ago. The four week moving average for the seasonally adjusted Market Index is up 0.5 percent. The four week moving average is down 6.4 percent for the seasonally adjusted Purchase Index, while this average is up 4.0 percent for the Refinance Index. The refinance share of mortgage activity decreased to 71.7 percent of total applications from 74.6 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 5.3 percent from 5.1 percent of total applications from the previous week. The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.82 percent from 4.83 percent, with points increasing to 1.19 from 1.18 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed-rate mortgages remained flat at 4.32 percent, with points increasing to 1.05 from 1.01 (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs decreased to 6.66 percent from 6.85 percent, with points increasing to 0.33 from 0.29 (including the origination fee) for 80 percent LTV loans. The survey results released last week for the week ending Nov. 13, 2009 were revised and the changes reported in this week's results reflect that revision. One participant revised its data submission to show higher application volume, as well as a reclassification of some loans from purchase to refinance. As a result, the revised purchase application number is slightly lower than what was reported and the revised refinance number modestly higher.  For more information, visit www.mortgagebankers.org.  
Published
Nov 25, 2009
Homeward Lays Off 20% Of Staff

Alternative real estate financing company cut about 120 jobs.

Industry News
Aug 12, 2022
Lone Peak Lending Joins Panorama Mortgage Group

Names Donovan Stamps as president.

Industry News
Aug 11, 2022
Fairway Independent Mortgage Hires Former PrimeLending President

Firm says Scott Bristol is part of aggressive originator expansion.

Career
Aug 11, 2022
Mortgage Rates Jump Back Above 5%

Freddie Mac says rates recent volatility continues.

Industry News
Aug 11, 2022
Redfin: Share Of Relocating Buyers At All-Time High In July

People are looking for less expensive and better lifestyles.

Industry News
Aug 11, 2022
Redfin Expands iBuying Business To Florida

RedfinNow, which makes cash offers for homes, now operates in 34 markets in 16 states and the District of Columbia.

Tech
Aug 11, 2022