Skip to main content

Mortgage Apps Drop 5.9 Percent From Last Week's Totals

NationalMortgageProfessional.com
Jun 23, 2011

Mortgage applications decreased 5.9 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 17, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6.2 percent compared with the previous week. The Refinance Index decreased 7.2 percent from the previous week. The seasonally adjusted Purchase Index decreased 2.8 percent from one week earlier. The unadjusted Purchase Index decreased 3.9 percent compared with the previous week and was 4.4 percent higher than the same week one year ago. The Mortgage Bankers Association (MBA) four week moving average for the seasonally adjusted Market Index is up 0.4 percent. The four week moving average is down 0.7 percent for the seasonally adjusted Purchase Index, while this average is up 0.8 percent for the Refinance Index. The refinance share of mortgage activity decreased to 69.2 percent of total applications from 70.0 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 5.9 percent from 6.1 percent of total applications from the previous week. The average contract interest rate for 30-year fixed-rate mortgages increased to 4.57 percent from 4.51 percent, with points decreasing to 0.91 from 1.04 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate also increased from last week. The average contract interest rate for 15-year fixed-rate mortgages increased to 3.70 percent from 3.67 percent, with points decreasing to 1.05 from 1.06 (including the origination fee) for 80 percent LTV loans. The effective rate also increased from last week.
Published
Jun 23, 2011
What Millennials Want from the Homebuying Process

Research backs the need for education and technology in creating the kind of efficient, customer-focused homebuying experience younger consumers expect.

Analysis and Data
Jan 24, 2022
Ross Mortgage Makes Three Leadership Promotions

Ross Mortgage Corporation's president, Tim Pascarella, announced three leadership promotions within the company.

Community
Jan 24, 2022
Rising Mortgage Rates Could Propel Buyers To Purchase Homes Sooner

First American Financial Corporation published its Nov. 2021 First American Real Estate House Price Index, which found that rising mortgage rates may have a strong effect on prospective buyers.

Analysis and Data
Jan 24, 2022
PenFed CU Sees Record Annual Mortgage Lending Volume

PenFed Credit Union announced it's financial highlights from 2021 which includes record annual mortgage lending volume.

Industry News
Jan 21, 2022
Angel Oak Lending Platform Reveals Record-Setting 2021

Last year was a record-setting year for many companies in the mortgage lending space, especially for the Angel Oak lending platform that consists of Angel Oak Mortgage Solutions and Angel Oak Home Loans.

Non-QM
Jan 21, 2022
What Are The Biggest Deal-Breakers For Homebuyers?

The housing market is holding strong but that doesn't mean homebuyers don't have their fair share of deal-breakers when it comes to purchasing a home.

Analysis and Data
Jan 20, 2022