Best automation opportunities for loan processing

Join our expert panelists to learn how lenders can achieve their goals using the integration of intelligent document automation and RPA technology.

4 Strategies to Strengthen Customer Relationships

Discover the right strategies to execute fast-acting campaigns, track results and improve your bottom line – all while strengthening customer relationships.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Mortgage

MBA: Mortgage applications barely move after last week’s highs

Refinance gains offset by purchase index losses

It was a humdrum week for mortgage applications coming off of the previous week’s highs, the latest report from the Mortgage Bankers Association said.

Mortgage applications increased 1.3% from one week earlier for the week ending April 15.

This time around, the seasonally adjusted Purchase Index decreased 1% from one week earlier. While small, it didn’t significantly change last week’s news that the Purchase Index reached its highest level since October 2015.

On the other side, the Refinance Index increased 3% from the previous week.

The refinance share of mortgage activity increased to 55.4% of total applications, up from 54.9% the previous week. The adjustable-rate mortgage share of activity remained unchanged at 5% of total applications.

The Federal Housing Administration’s share of total applications decreased to 10.6% from 10.8% the week prior, as the Veteran Affairs’ share of total applications grew to 12.6% from 11.9% the week prior. The United States Department of Agriculture’s share of total applications stayed frozen at 0.8% from the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) moved higher to 3.83% from 3.82%, while the average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 3.77% from 3.74%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.64% from 3.66%, marking the lowest rate since May 2013.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.06% from 3.10%, reaching the lowest rate since May 2013.

In addition, the average contract interest rate for 5/1 ARMs decreased to 2.91% from 2.94%. 

Most Popular Articles

Chopra warns of post-COVID housing market fallout

Rohit Chopra warned of housing market fallout and said he would focus on helping struggling homeowners at his Senate Confirmation hearing.

Mar 03, 2021 By

Latest Articles

CFPB delays QM compliance date to October 2022

The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022.

Mar 04, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please