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.
Published
May 10, 2017
Guild Mortgage Announces Medical Professional Mortgage Program

Guild Mortgage introduced a new mortgage product to help medical professionals buy their first home with no down payment.

Industry News
Oct 27, 2021
Mortgage Coach And HomeBinder Partner On New Integration For Homeowners

Mortgage Coach announced a new integration with HomeBinder aimed to help homeowners stay connected with their lenders.

Tech
Oct 27, 2021
Non-QM Lender Angel Oak Appoints David Raju As Group CIO

Firm continues to seek ways to optimize data and improve technology capabilities.

Non-QM
Oct 27, 2021
Evergrande Steadily Repays Debt While Taking On New Risk

Evergrande Chairman Hui Ka Yan has ambitious plans, signaling last Friday that the firm wants to move away from housing and focus on making electric cars. 

Industry News
Oct 26, 2021
Planet Home Lending Reports Q3 Gains In Asset Management, Servicing And Originations

The Planet Home Financial Group, LLC, parent company of Planet Home Lending, LLC and Planet Management Group, LLC reported steady growth across its servicing, correspondent and private-client channels.

Industry News
Oct 26, 2021
CFPB, DOJ And OCC Hit Trustmark National Bank For 'Deliberate' Redlining

The Consumer Financial Protection Bureau and U.S. Department of Justice, in conjunction with the Office of the Comptroller of the Currency are taking action against Trustmark National Bank for alleged redlining violations.

Industry News
Oct 25, 2021