Skip to main content

Mortgage Applications Drop 7.3 Percent

Phil Hall
Apr 24, 2019
Photo credit: Getty Images/undefined undefined

Fewer people were in pursuit of mortgage applications, according to the latest data from the Mortgage Bankers Association (MBA) for the week ending April 19.
 
The Market Composite Index was down by 7.3 percent on a seasonally adjusted basis from one week earlier while the unadjusted index fell 6 percent. The seasonally adjusted Purchase Index decreased four percent from one week earlier and the unadjusted index was three percent lower—although the latter was also three percent higher than the same week one year ago. The Refinance Index decreased 11 percent from the previous week. The refinance share of mortgage activity decreased to 39.4 percent of total applications from 41.5 percent the previous week.
 
Among the federal programs, the FHA share of total applications increased to 9.9 percent from 9.4 percent the week prior and the VA share of total applications decreased to 11.3 percent from 11.6 percent, while the USDA share of total applications remained unchanged from 0.6 percent.
 
“The strong economy and job market is keeping buyer interest high, but rising mortgage rates could add pressure to the budgets of some would-be buyers,” said Mike Fratantoni, MBA Senior Vice President and Chief Economist.

 
Published
Apr 24, 2019
KBRA Assigns Preliminary Ratings To SEMT 2021-6

Pool Of 497 First-Lien Loans Combined Have A Principal Balance Of Nearly $449M

Industry News
Sep 16, 2021
Fugo Appoints Bahlman As VP, Client Relations & Sales

Brings 19 Years of Experience To Texas-Based Back-Office Support Company

Industry News
Sep 16, 2021
Envoy Mortgage Expands To Atlanta

Envoy Mortgage lender expanded its Southeast operations to Atlanta, GA.

Industry News
Sep 15, 2021
FHFA Suspends Controversial PSPA Amendments

Today, the FHFA will be suspending controversial provisions added to the Preferred Stock Purchase Agreement (PSPA) on January 14, 2021.

Industry News
Sep 15, 2021
Covius Holdings To Acquire Nationwide Title Clearing

All 670 NTC Employees, Including Senior Management, Will Join Covius

Industry News
Sep 14, 2021
MBA Appoints AVP Of Diversity, Equity, & Inclusion

Promotes Amber Lawrence From Position As Associate Director Of Career Development Programs

Industry News
Sep 14, 2021