How far can lenders push the credit box?

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers

Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
W S

Mortgage applications rose 3.2% last week: MBA

/ Print / Reprints /
| Share More
/ Text Size+
Mortgage applications bounced back last week with increased demand for both purchases and refinancings. The Mortgage Bankers Association market composite index rose 3.2% for the week ended Oct. 22 spurred by a 3.9% gain in purchase applications and a 3% climb in refinancings. The index fell 10.5% the prior week. The unadjusted index rose 3.1% last week, as the unadjusted purchase index increased 3.5% and is now 30.3% lower than the year earlier. In four-week moving averages, the seasonally adjusted market index is up 1.4%, the purchase index is down 0.7% and the refinance index is up 1.9%. Refinancings accounted for 82.3% of all mortgage applications last week, down slightly from 82.4% the week earlier. Lower demand for adjustable-rate mortgages lowered that loan's share to 5.3% of applications last week from 5.8% the week prior. The MBA said interest rates for 30-year, fixed and 15-year, fixed mortgages slid back closer to record lows last week after rising the week earlier. The average rate for the 30-year fell to 4.25% from 4.34% and the 15-year decreased to 3.67% from 3.74%. Write to Jason Philyaw. ?

Recent Articles by Jason Philyaw

Comments powered by Disqus