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.

Apr 24, 2019
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Sep 11, 2023
If You Build It, They Will Come

Ratings will go a long way toward growing the market for home equity-backed securities

Sep 07, 2023
Investors May Be Losing Interest In The Single-Family Rental Market

Rise in interest rates, drop in values have them pulling back in certain regions

Sep 07, 2023