Skip to main content

Mortgage Applications Start 2017 on the Rise

Jan 11, 2017
The new year kicked off on a positive note regarding prospective homeowners, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 6

The new year kicked off on a positive note regarding prospective homeowners, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 6.

The Market Composite Index increased 5.8 percent on a seasonally adjusted basis from one week earlier while the unadjusted index skyrocketed by 42 percent compared with the previous week. The seasonally adjusted Purchase Index increased six percent from one week earlier while the unadjusted spiked by 45 percent—although it was 18 percent lower than the same week one year ago. The Refinance Index increased four percent from the previous week, but the refinance share of mortgage activity decreased to 51.2 percent of total applications from 52.2 percent the previous week.

Among the federal home loan programs, the FHA share of total applications increased to 11.7 percent from 11.6 percent the week prior while the VA share of total applications rose to 12.8 percent from 12.3 percent and the USDA share of total applications fell to 0.9 percent from 1.1 percent.

About the author
Published
Jan 11, 2017
The Volume Is All The Way Up On 'Fed Speak'

Why Lenders Hang Their Hats On The Fed’s Every Word

Jul 15, 2024
The Sale, The Risk & The Trend

The chronicles of Norcom Mortgage

Jul 08, 2024
A Reading From The Book Of Kyle

A Texas coach and former pastor felt a calling, spawning a best-selling how-to for loan officers

Jul 08, 2024
Mortgage Applications Increase Slightly In Latest Survey

Applications increased 0.8% from one week earlier.

Jun 26, 2024
FHFA Approves Freddie Mac's Second Mortgage Pilot

The GSE's limited program will permit cost-effective cash-out refinances

Jun 24, 2024
Former Rocket Mortgage SVP Turned UWM Broker Partner

Zoom Home Lending, headed by former Rocket Mortgage executives, partner with their old wholesale rival, UWM

Jun 20, 2024