Refinancing Fuels Mortgage Application Uptick – NMP Skip to main content

Refinancing Fuels Mortgage Application Uptick

Sep 06, 2017
Home loan application activity was on the rise during the final stretch of August, according to Mortgage Bankers Association (MBA) for the week ending Sept. 1

Home loan application activity was on the rise during the final stretch of August, according to Mortgage Bankers Association (MBA) for the week ending Sept. 1. However, much of this activity was fueled by refinancing, which now accounts for slightly more than half of all applications.
 
The Market Composite Index increased 3.3 percent on a seasonally adjusted basis from one week earlier, while the unadjusted index was up two percent. The seasonally adjusted Purchase Index was up by one percent, but the unadjusted index was down by one percent—although the latter was also five percent higher than the same week one year ago.
 
But the real energy was on the refi side. The Refinance Index increased five percent from the previous week, while the refinance share of mortgage activity increased from 49.4 percent to 50.9 percent, its highest level since January 2017.
 
Among the federal programs, the FHA share of total applications decreased to 9.6 percent from 9.7 percent and the VA share of total applications decreased to 9.7 percent from 10 percent, while the USDA share of total applications remained unchanged from the week prior at 0.7 percent.

 
About the author
Published
Sep 06, 2017
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
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Jul 02, 2026