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Tag Archives: Mortgage Applications

Analysts Weigh in on NAR’s Existing-Home Sales Report

The National Association of Realtors reported Wednesday that sales of previously owned homes rose 3.7 percent last month, following the 9.6 drop recorded in February. The results were slightly better than forecast, but reaction was mixed after the release of the report. One economist says sales have now stabilized at a level no higher than that seen during the recession, and with so many forced foreclosed sales, a recovery is not even on the horizon. But another points out that it's distressed properties that are helping to elevate sales activity as investors line up for a bargain.

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Mortgage Demand Falls for Second Straight Week

Consumer demand for home mortgages declined last week, according to industry data released Wednesday. It marks the second consecutive week that the number of home loan applications has dropped, as long-term mortgage rates came in above the 5 percent threshold yet again. The Mortgage Bankers Association said its measurement of application volume slipped 9.5 percent for the week ending February 11. The trade group's gauge has hit its lowest point in more than two years.

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Mortgage Applications on the Rise Again

The number of mortgage applications submitted to lenders increased last week, as new applications for both loan refinancings and home purchases rose. That follows a 13 percent plunge in overall activity the week before. Data released by the Mortgage Bankers Association (MBA) Wednesday shows that the trade group's measurement of total mortgage loan application volume jumped 11.3 percent for the week ending January 28.

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MBA Sees 36% Falloff in Mortgage Production in 2011

The Mortgage Bankers Association (MBA) released its market outlook to the media on Wednesday. The trade group's economists are expecting mortgage lending to shrink by 36 percent this year. They project originations -- including loans for home purchases and refinancing -- to total $966 billion in 2011, compared to $1.5 trillion in 2010. If MBA's forecast holds true, it will be the mortgage industry's poorest showing since 1997.

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Mortgage Applications Drop 13% in Latest MBA Survey

After three weeks of solid increases, the industry's volume of new mortgage applications took a sharp dive last week, as refinancing plunged to its slowest pace in a year and home purchases declined to their lowest level in nearly four months. The Mortgage Bankers Association (MBA) said Wednesday that its measurement of total mortgage loan application volume decreased 12.9 percent for the week ending January 21, 2011 when compared to one week earlier.

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Mortgage Applications Increase for Third Week on Refinancing Wave

The number of people submitting mortgage applications rose last week due to a surge in refinancings. It marked the third consecutive week that application volume overall has increased. During all three weeks, applications for refinancing have risen while new applications for home purchases have declined. Refinance apps have gained momentum as borrowers take advantage of lower rates, but MBA says it's unlikely home sales will pick up any time soon.

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Consumer Demand for Mortgages Increases for Second Straight Week

The number of mortgage applications filed by consumers rose last week as interest rates eased and more homeowners moved to refinance their home loans. According to data released by the Mortgage Bankers Association (MBA) Wednesday, total mortgage loan application volume increased 2.2 percent for the week ending January 7, 2011, when compared to the previous week. It marked the second week in a row that application volume has climbed as MBA's index hit its highest level in nearly a month.

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Demand for Mortgages Fluctuates at Year-End but Remains Weak

The number of mortgage applications filed by consumers bounced up and down during the final weeks of 2010, dropping the week before the Christmas Day holiday and rising the week after. Market watchers warn that although a number of economic indicators have signaled improvement in recent weeks, the incremental boosts are doing little to lift the home financing market, which with mortgage rates steadily rising, looks to be situated for many more months of depressed activity.

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Freddie Mac’s Nothaft Predicts Mortgage Rates to Remain Below 5%

Frank Nothaft, chief economist for Freddie Mac, says he expects long-term mortgage rates to hold below the 5 percent threshold throughout 2011, as key macroeconomic drivers provide a backdrop that supports a continued, albeit gradual, housing recovery. Turning to home prices, Nothaft says markets that have large inventories of for-sale homes and REO properties will continue to see home-value weakness in 2011, but he believes price indexes for the U.S. as a whole are close to bottoming out.

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Mortgage Loan Applications Plunge 18.6 Percent: MBA

Consumer demand for home mortgages fell sharply last week, as interest rates continued to edge up from six-month highs. The Mortgage Bankers Association (MBA) reported Wednesday that its measurement of total mortgage loan application volume plunged 18.6 percent for the week ending December 17. The steep drop was driven by a 24.6 percent decline in applications for mortgage refinancing, which have fallen for six straight weeks now.

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