Skip to main content

Mortgage Apps Rebound and See 4.5 Percent Weekly Increase

NationalMortgageProfessional.com
Dec 05, 2012

Mortgage applications increased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Nov. 30, 2012. Last week’s results included an adjustment for the Thanksgiving holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 4.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 49 percent compared with the previous week. The Refinance Index increased six percent from the previous week. The seasonally adjusted Purchase Index increased 0.1 percent from one week earlier. The unadjusted Purchase Index increased 36 percent compared with the previous week and was 0.1 percent lower than the same week one year ago. The refinance share of mortgage activity increased to 83 percent of total applications from 81 percent the previous week. The HARP share of refinance applications increased to 27 percent from 26 percent the prior week. The adjustable-rate mortgage (ARM) share of activity decreased to three percent of total applications. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 3.52 percent, matching the lowest rate in the history of the survey, from 3.53 percent, with points increasing to 0.41 from 0.40 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) increased to 3.79 percent from 3.75 percent, with points increasing to 0.32 from 0.31 (including the origination fee) for 80 percent LTVs. The effective rate increased from last week. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.34 percent, matching the lowest rate in the history of the survey, from 3.36 percent, with points decreasing to 0.62 from 0.65 (including the origination fee) for 80 percent LTVs. The effective rate decreased from last week. The average contract interest rate for 15-year fixed-rate mortgages decreased to 2.86 percent, the lowest rate in the history of the survey, from 2.89 percent, with points decreasing to 0.27 from 0.35 (including the origination fee) for 80 percent LTVs. The effective rate decreased from last week. The average contract interest rate for 5/1 ARMs increased to 2.62 percent from 2.60 percent, with points increasing to 0.40 from 0.37 (including the origination fee) for 80 percent LTVs. The effective rate increased from last week.
Published
Dec 05, 2012
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