Mortgage Applications Up Two Percent

Dec 05, 2018

September’s pending home sales data marked a second consecutive month of increases

There was more interest in obtaining home loans, according to new data from the Mortgage Bankers Association (MBA) for the week ending Nov. 30.

The Market Composite Index was up by two percent on a seasonally adjusted basis from one week earlier, while the unadjusted index took a robust 42 percent upswing compared with the previous week. The seasonally adjusted Purchase Index increased one percent from one week earlier, while the unadjusted Purchase Index soared by 36 percent compared with the previous week and was 0.2 percent higher than the same week one year ago. The Refinance Index increased six percent from the previous week and the refinance share of mortgage activity increased to 40.4 percent of total applications from 37.9 percent the previous week.

Among the federal programs, the FHA share of total applications increased to 10.2 percent from 9.6 percent the week prior and the VA share of total applications increased to 10 percent from 9.9 percent, but the USDA share of total applications decreased to 0.6 percent from 0.7 percent.

“Additionally, we saw a decrease in the average loan size for purchase applications to the lowest amount since December 2017—$298,000 from $313,000,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “This is perhaps an indication that there are fewer jumbo borrowers, or maybe first-time buyers are having better success reaching the market as we close out the year.”

About the author

Phil Hall

Link copied

Published

Dec 05, 2018

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Nov

Houston, TX

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026