Mortgage Applications Up Slightly – NMP Skip to main content

Mortgage Applications Up Slightly

Jul 26, 2017
For the second week in a row, mortgage applications were on the rise, according to new data from Mortgage Bankers Association (MBA) that measured market activity for the week ending July 21

For the second week in a row, mortgage applications were on the rise, according to new data from Mortgage Bankers Association (MBA) that measured market activity for the week ending July 21.
 
The Market Composite Index saw a 0.4 percent uptick on a seasonally adjusted basis from one week earlier while the unadjusted index took a one percent increase.
 
The seasonally adjusted Purchase Index fell by two percent to the lowest level since May. The unadjusted Purchase Index also decreased by two percent, but it was eight percent higher than the same week one year ago.
 
The Refinance Index saw a three percent rise while the refinance share of mortgage activity increased to 46 percent of total applications from 44.7 percent the previous week.
 
Among the federal programs, the FHA share of total applications decreased to 10.2 percent from 10.7 percent the week prior while the VA share of total applications decreased to 10.5 percent from 10.7 percent and the USDA share of total applications increased to 0.8 percent from 0.7 percent.
 
"Mortgage rates dropped to their lowest level in a month last week, which led to a slight increase in refinance volume," said MBA Chief Economist Mike Fratantoni. "Purchase applications decreased for the week to their lowest level since May, amid further signs that tight housing inventory is constraining transaction volume. Purchase application volume remains eight percent higher than one year ago in units, 12 percent higher in terms of dollar volume, bolstered by a strong job market and rising home prices."

 
About the author
Published
Jul 26, 2017
July CPI Eases Mortgage-Rate Risk, But Doesn’t Promise Relief

Consumer inflation rose just 0.1% in July, reducing pressure for a September Fed rate hike as mortgage rates remain near their highest levels of the year

Aug 13, 2026
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Jul 02, 2026