Origination/Lending
Refinancing Interest Boosts MBA’s Weekly Mortgage Apps
By
AUSTIN KILGORE
November 11, 2009 1:07 PM CST
The rate of mortgage applications initiated increased in two weekly surveys.
The Mortgage Bankers Association (MBA) index of gross mortgage applications increased 8.2% on a seasonally adjusted basis for the week ending Oct. 30.
MBA’s refinance index increased 14.5% from the previous week. The association’s purchase index decreased 1.8%. Refinance applications took a 66.1% share of all applications, up from 62.3% in the previous week. The adjustable-rate mortgage (ARM) share of all applications decreased to 6.1% from 6.9%.
Mortgage Maxx’s survey of applications — which adjusts gross applications to reflect the number of households initiating applications — increased 1.6% for the same period.
“The Max temporarily abates its twenty percent decline since early October; however the downward flight path through the end of 2009 will resume both in real and nominal terms as the holiday effect begins in two short weeks,” Mortgage Maxx said in its report.
Write to Austin Kilgore.
Print This Article
recent stories by department
Origination/Lending
Secondary Market/Investors
Get your HW Fix
Join nearly 10,000 bold subscribers who already get our daily email delivered to their inbox -- it's free, and a great way to ensure you don't miss something.
Events
2009 Dec 09 -- 2009 Dec 10
RMBS: Assessing Value and Risk
This two-day course in New York City will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
2010 Jan 13 -- 2010 Jan 14
2010 Collection Technology Summit
The Collection Technology Summit is the first industry event to focus solely on collections and its associated technologies and continues to draw top executives from the nation's most prominent institutions. The Collection Technology Summit, where innovation happens. For more information, visit www.collectiontechnology.net
