Desultory Week for Mortgage Applications

May 11, 2016

Mortgage activity was mostly flat during the past week, according to the latest Mortgage Bankers Association (MBA) Weekly Mortgage Applications Survey.

Both the Market Composite Index and the Purchase Index increased a scant 0.4 percent on a seasonally-adjusted basis and increased one percent on an unadjusted basis for the week ending May 6. The Refinance Index increased 0.5 percent from the previous week, but the refinance share of mortgage activity decreased to 52.8 percent of total applications from 52.9 percent the previous week.

There were mixed results among the government loan programs: the FHA share of total applications decreased to 13 percent from 13.5 percent the week prior, while the VA share of total applications increased to 11.7 percent from 11.5 percent and the USDA share of total applications remained unchanged at 0.7 percent the week.

About the author

Phil Hall

Link copied

Published

May 11, 2016

Analysis and Data

It's A Buyers' Market In Texas And Florida!!!

Redfin says sellers are cutting their asking prices in the two southern states.

Two states in particular are experiencing a ballooning supply of homes for sale this spring, paired with modest price cuts to entice buyers. A new report from Redfin indicates that housing supply is surging in Florida and Texas, and sellers are cutting their asking prices...

Analysis and Data

Pending Home Sales Climbed 3.4% In March

National Association of Realtors reports gains in Northeast, South and West, with a slight drop in the Midwest

Homes under contract are rising at a cautiously hopeful pace this spring. The National Association of Realtors’ Pending home Sales Index climbed 3.4% in March, increasing to 78.2. Year-over-year, pending transactions were up 0.1%. “March's Pending Home Sales Index – at...