Mortgage applications increased slightly last week, according to the Mortgage Bankers Association (MBA). The MBA’s market composite index, a measure of gross mortgage application volume, increased 0.3% on a seasonally adjusted basis for the week ending December 11, compared to the previous week. The group’s refinance index was up 0.9%, while the purchase index decreased 0.1%. Mortgage Maxx’s survey that’s adjusted to reflect the number of households applying for mortgages decreased 3% for the week ending December 11. “As the year-end holidays quickly approach, the MAX will continue to move lower until at least January,” Mortgage Maxx said. Refinance mortgages took a 75.2% share of total applications, the MBA said, up from 74.4% the previous week. It’s the highest refinance share since April 24 of this year. Adjustable-rate mortgages (ARMs) took a 4.1% share of activity, down from 4.7% in the previous week and the lowest share since mid-June 2009. Write to Austin Kilgore.
MBA Says Mortgage Applications Up Slightly
Most Popular Articles
Latest Articles
Kristen Sieffert leads the reverse mortgage presence at The Gathering
FOA’s president spoke about bringing reverse mortgages into the mainstream at the event in Scottsdale, Arizona.