The total volume of mortgage applications submitted in the week ending August 6 ticked up a seasonally adjusted 0.6% from the previous week as interest in both refinance and purchase mortgages remained essentially flat, according to the Mortgage Bankers Association (MBA). The total volume of applications for purchase mortgages is now 34.1% below the same time last year, MBA said. At the same time, a separate survey measuring household mortgage application rose 1.4%. MBA found the volume of applications submitted for purchase mortgages rose 0.3% after the previous week’s 1.5% growth. This fourth weekly gain was driven by rising interest in mortgages insured by the government (through FHA and VA). The volume of applications submitted for refinance ticked up 0.6% after rising 1.3% last week. The refinance share of mortgage application activity ticked up to 78.1%, from 78% last week. The Mortgage Maxx index, which adjusts data to reflect the number of households applying for a mortgage, showed household application activity rose 1.4% after slipping 2.9% the week before. Write to Diana Golobay.
Mortgage Application Volume Sinks 34.1% Since 2009: MBA
Most Popular Articles
Latest Articles
Pennymac posts first-quarter profit of $39M
Loan production income shrank in the first quarter, but the company’s servicing business continues to grow
-
DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
-
Top Producer Review: Features, pricing & alternatives
-
A&D Mortgage names new servicing manager
-
HUD aims to help protect communities from extreme heat
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products