Skip to main content

Mortgage Applications Up 2.4 Percent

Phil Hall
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.
Fifth Third Bank Expands Down Payment Assistance Program

The program will provide up to $3,600 towards a down payment for families with low to moderate income.

Industry News
Jun 09, 2021
Filo Mortgage Launches Low-Rate Guarantee

National mortgage lender Filo Mortgage is offering to beat competitors' pricing by $1,000 with its Low-Rate Guarantee.

Industry News
Jun 08, 2021
FAU Index Shows Where Consumers Should Buy Or Rent

Consumers are better off renting in cities like Dallas, Texas

Industry News
Jun 07, 2021
Verus Title Inc. Expands Into Dallas-Fort Worth Texas

Verus plans to take advantage of the Dallas-Fort Worth market before expanding throughout the state.

Jun 07, 2021
Freddie Mac Multifamily Extends Forbearance Deadline To September

Freddie Mac Multifamily extended the deadline for requesting a new COVID-19 forbearance agreement for its Multifamily loans to September 30, 2021.

Industry News
Jun 04, 2021
Fannie Mae Launches 'Your Own Story' To Educate Future Homebuyers

Fannie Mae is seeking to help demystify the homebuying process for future homeowners with “Your Own Story.” A new campaign to educate future homebuyers on the entire process.

Industry News
Jun 04, 2021