Mortgage Applications Up 2.4 Percent – NMP
Industry News

Mortgage Applications Up 2.4 Percent

May 10, 2017
Average mortgage rates were down slightly in the latest Freddie Mac data

Last week saw upswings in the purchase and refinance markets, according to the latest Mortgage Bankers Association Weekly Mortgage Applications Survey for the week ending May 5.
 
The Market Composite Index increased by 2.4 percent on a seasonally adjusted basis and by three percent on an unadjusted basis. Both the seasonally adjusted and unadjusted Purchase Index increased by two percent from one week earlier—the seasonally adjusted index hit its highest level since October 2015 while the unadjusted index was six percent higher than the same week one year ago. The seasonally adjusted Conventional Purchase Index also took a two percent increase from the previous week to its highest level since April 2009.
 
The Refinance Index increased three percent from the previous week while the refinance share of mortgage activity increased to 41.9 percent of total applications from 41.6 percent the previous week. Among the federal programs, the FHA share of total applications increased to 10.5 percent from 10.4 percent the week prior while the VA and USDA shares of total applications remained unchanged at 10.8 percent and 0.8 percent, respectively.
About the author
Phil Hall
Link copied
Published
May 10, 2017
Get the NMP Daily
Analysis and Data
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Continue reading
Wholesale
The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
Garg Claims Majority In Better Fight, Board Poised To Honor Vote

Founder says he secured more than 51% of voting power to remove five directors, pending confirmation by a third-party inspector

C-Suite Strategies
Oct 01, 2026
Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Industry News
Sep 29, 2026
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News
Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News
Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies
Sep 23, 2026