Posts Tagged ‘mortgage loan applications’

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 18, 2011.

The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly payments. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (may boost consumer spending. Also allows debtors to pay down personal liabilities faster). A trend of declining purchase applications implies home buyer demand is shrinking.

Excerpts from the Release...

The Market Composite Index, a measure of mortgage loan application volume, increased 2.7 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 2.8 percent compared with the previous week.  

The Refinance Index increased 2.7 percent from the previous week. The four week moving average is up 3.3 percent.  The refinance share of mortgage activity remained constant at 66.4 percent of total applications.

The seasonally adjusted Purchase Index increased 2.7 percent from one week earlier. The unadjusted Purchase Index increased 3.0 percent compared with the previous week and was 15.3 percent lower than the same week one year ago. The four week moving average is up 1.0 percent.

"Recently lower mortgage rates have failed to bring potential refinance candidates off the fence" said MND's Managing Editor Adam Quinones. "This isn't a big surprise as most qualified borrowers  simply don't have an incentive to refinance because they already did last year when rates were near record lows.  Other than that, qualification issues continue to prevent many folks from lowering their monthly payment. We do however expect a modest increase in purchase activity heading into the spring buying season."

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The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 18, 2011.

The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly payments. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (may boost consumer spending. Also allows debtors to pay down personal liabilities faster). A trend of declining purchase applications implies home buyer demand is shrinking.

Excerpts from the Release...

The Market Composite Index, a measure of mortgage loan application volume, increased 2.7 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 2.8 percent compared with the previous week.  

The Refinance Index increased 2.7 percent from the previous week. The four week moving average is up 3.3 percent.  The refinance share of mortgage activity remained constant at 66.4 percent of total applications.

The seasonally adjusted Purchase Index increased 2.7 percent from one week earlier. The unadjusted Purchase Index increased 3.0 percent compared with the previous week and was 15.3 percent lower than the same week one year ago. The four week moving average is up 1.0 percent.

"Recently lower mortgage rates have failed to bring potential refinance candidates off the fence" said MND's Managing Editor Adam Quinones. "This isn't a big surprise as most qualified borrowers  simply don't have an incentive to refinance because they already did last year when rates were near record lows.  Other than that, qualification issues continue to prevent many folks from lowering their monthly payment. We do however expect a modest increase in purchase activity heading into the spring buying season."

...(read more)

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 11, 2011. 

The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly payments. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (may boost consumer spending. Also allows debtors to pay down personal liabilities faster). A trend of declining purchase applications implies home buyer demand is shrinking.

Excerpts from the Release...

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.7 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 0.5 percent compared with the previous week. 

The Refinance Index increased 0.9 percent from the previous week and is the highest Refinance Index recorded in the survey since December 2010.  The four week moving average is up 6.6 percent. The refinance share of mortgage activity increased to 66.4 percent of total applications from 65.5 percent the previous week.

The seasonally adjusted Purchase Index decreased 4.0 percent from one week earlier. The unadjusted Purchase Index decreased 3.2 percent compared with the previous week and was 15.5 percent lower than the same week one year ago.  The four week moving average is up 1.6 percent.

Stored borrower demand was released late last week as mortgage rates rallied back to the lows of the year. Lock desk flows were busiest on Friday, March 11. The thing is, there just wasn't that much pent up energy to be released! Even after adjusting for the previous week's distorted data, the uptick in activity was modest at most. The mortgage market feels very stale.....

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The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly payments. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (may boost consumer spending. Also allows debtors to pay down personal liabilities faster). A trend of declining purchase applications implies home buyer demand is shrinking.

The Market Composite Index, a measure of mortgage loan application volume, increased 15.5 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 16.1 percent compared with the previous week.  

The Refinance Index increased 17.2 percent from the previous week and was the highest Refinance Index observed since the week ending January 14, 2011.  The four week moving average is up 3.6 percent. The refinance share of mortgage activity increased to 65.5 percent of total applications from 64.9 percent the previous week.

The seasonally adjusted Purchase Index increased 12.5 percent from one week earlier and was the highest Purchase Index recorded this year. The unadjusted Purchase Index increased 14.3 percent compared with the previous week and was 14.3 percent lower than the same week one year ago. The four week moving average is up 1.2 percent for the seasonally adjusted Purchase Index.

IMPORTANT NOTE: The previous week's data did not include a holiday adjustment for Presidents' Day,  the week over week percentage rebound we are seeing today was likely overstated as a result.

...(read more)

The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly payments. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (may boost consumer spending. Also allows debtors to pay down personal liabilities faster). A trend of declining purchase applications implies home buyer demand is shrinking.

The Market Composite Index, a measure of mortgage loan application volume, increased 15.5 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 16.1 percent compared with the previous week.  

The Refinance Index increased 17.2 percent from the previous week and was the highest Refinance Index observed since the week ending January 14, 2011.  The four week moving average is up 3.6 percent. The refinance share of mortgage activity increased to 65.5 percent of total applications from 64.9 percent the previous week.

The seasonally adjusted Purchase Index increased 12.5 percent from one week earlier and was the highest Purchase Index recorded this year. The unadjusted Purchase Index increased 14.3 percent compared with the previous week and was 14.3 percent lower than the same week one year ago. The four week moving average is up 1.2 percent for the seasonally adjusted Purchase Index.

IMPORTANT NOTE: The previous week's data did not include a holiday adjustment for Presidents' Day,  the week over week percentage rebound we are seeing today was likely overstated as a result.

...(read more)

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 7, 2011. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly payments. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (may boost consumer spending. Also allows debtors to pay down personal liabilities faster). A trend of declining purchase applications...(read more)

The Mortgage Bankers Association (MBA) today released its Weekly Application Survey for the week ending December 17, 2010 . The Mortgage Bankers Association application survey covers over 50% of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. In a low mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out a lower monthly payment which can increase disposable income and consumer spending (or give consumers a chance to pay down other debts like credit cards). A falling trend of purchase applications indicates a decline in home buying interest, a negative for the housing industry and the economy as a whole. Excerpts...(read more)

The Mortgage Bankers Association today released its Weekly Mortgage Applications Survey for the week ending December 10th, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a low mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out a lower monthly payment. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (creates more consumer spending or allows debtors to pay down personal liabilities like credit cards). A falling trend of purchase...(read more)