Mortgage Applications Continue to Rise – NMP Skip to main content

Mortgage Applications Continue to Rise

Phil Hall
Dec 12, 2018
Home prices during September increased nationally by 3.5 percent from one year earlier and were also up by 0.4 percent from August

Mortgage applications were up for the third consecutive week, according to Mortgage Bankers Association (MBA) data tracking activity for the week ending Dec. 7.
 
The Market Composite Index increased by 1.6 percent on a seasonally adjusted basis from one week earlier, although the unadjusted index was down by one percent. The seasonally adjusted Purchase Index increased by three percent from one week earlier and the unadjusted index dipped by two percent—although the latter was four percent higher than the same week one year ago. The unadjusted Refinance Index increased by two percent from the previous week as the refinance share of mortgage activity increased to 41.5 percent of total applications, the highest level since March, from 40.4 percent the previous week.
 
Among the federal program, the FHA share of total applications increased to 10.8 percent from 10.2 percent the week prior while the VA share of total applications increased to 10.2 percent from 10 percent and the USDA share of total applications increased to 0.7 percent from 0.6 percent.
 
"Mortgage rates fell across the board last week, driven by a similar slide in Treasuries," said MBA Associate Vice President of Economic and Industry Forecasting Joel Kan. "Trade fears dominated investors' concerns for another week, and this was amplified by data released by the U.S. Commerce Department showing a widening trade deficit."

 
Published
Dec 12, 2018
Online Brokerage REX Pursues Litigation Against Zillow & NAR

The legal battle between REX Home Loans (Real Estate Exchange, Inc.) and NAR continues to heat up, even though REX is reported to have shut down operations.

Industry News
May 16, 2022
Fannie Mae Seeks Innovative Housing Ideas

Sustainable Communities Innovation Challenge seeks ideas to advance racial equity in housing, focusing on addressing supply, funding and credit barriers.

Industry News
May 16, 2022
BSI Financial Hires Execs To Drive HR, Investor Reporting

Sean McGowan will lead HR, training and company culture; Shannon Clay to head investor reporting, reconciliations, and cash management initiatives.

Industry News
May 16, 2022
Home Point First Quarter Earnings Down Significantly

Net income down more than 90% from a year ago.

Industry News
May 13, 2022
New FHA Head Approved After Lengthy Delay

Vice president breaks tie vote for Julia Gordon nomination confirmation.

Industry News
May 12, 2022
Rocket CEO Predicts A Recession

He's seeing consumer spending decline through their TrueBill system

Industry News
May 12, 2022