Mortgage Applications Up Two Percent – NMP Skip to main content

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
Published
Dec 05, 2018
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026