Mortgage Applications Take a Tumble – NMP Skip to main content

Mortgage Applications Take a Tumble

Mar 22, 2017
The last full week of winter was chilly one for the home loan market, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 17

The last full week of winter was chilly one for the home loan market, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 17.
 
The Market Composite Index dropped by 2.7 percent on a seasonally adjusted basis and fell by two percent on an unadjusted basis. Both the seasonally adjusted and the unadjusted Purchase Index decreased by two percent from one week earlier, although the latter was five percent and the Government Refinance Index sank by 12 percent to the lowest level since December 2014 while the refinance share of mortgage activity dipped to 45.1 percent of total applications from 45.6 percent the previous week.
 
Among the federal mortgage programs, the FHA share of total applications decreased to 10.9 percent from 11.1 percent the week prior while the VA share of total applications fell to 10.1 percent from 11.1 percent the week prior. The USDA share of total applications, once again, remained unchanged at 0.9 percent.
 
Separately, the Federal Housing Finance Agency (FHFA) announced house prices remained flat in January. This is the only the second time since early 2012 that there was no positive monthly increase; the previously reported 0.4 percent increase in December remains unrevised. On a year-over-year basis, however, house prices were up 5.7 percent in January. All nine census divisions also registered positive year-over-year growth while three divisions saw declines from December to January, most notably a two percent drop in the East South Central division.
About the author
Published
Mar 22, 2017
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026