Skip to main content

Mortgage Applications Down 7.4 Percent

Phil Hall
Jul 12, 2017
Last week’s Fourth of July holiday did little to boost enthusiasm in the housing market, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey

Last week’s Fourth of July holiday did little to boost enthusiasm in the housing market, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 7.
 
The Market Composite Index fell by decreased 7.4 percent on a seasonally adjusted basis from one week earlier, while the unadjusted index plummeted by 26 percent. The seasonally adjusted Purchase Index saw a three percent slip one week earlier, but the unadjusted experienced a 22 percent crash compared with the previous week—although it was still three percent higher than the same week one year ago. The Refinance Index decreased 13 percent from the previous week to the lowest level since January, while the refinance share of mortgage activity shrank to 42.1 percent of total applications from 44.9 percent the previous week.
 
Among the federal programs, the FHA share of total applications increased to 10.4 percent from 10.2 percent the week prior and the VA share of total applications increased to 11.5 percent from 10.3 percent, but the USDA share of total applications decreased to 0.7 percent from last week’s 0.8 percent.

 
Published
Jul 12, 2017
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
Reports: Evergrande Group Makes $83.5M Interest Payment

Faltering Chinese development firm fends off default with payment to international bondholders.

Industry News
Oct 22, 2021
FAR Establishes Borrower Engagement Division

Finance of America Reverse LLC announced its formally established Borrower Engagement Division.

Industry News
Oct 22, 2021
Automating Appraisals No Panacea For Removing Bias

With racism 'grandfathered in' to housing prices in minority neighborhoods, a solution to 'unconscious bias' is difficult to find

Industry News
Oct 21, 2021