The total volume of mortgage applications submitted in the week ending July 16 slipped a seasonally adjusted 4.4% from the previous week, despite another increase in purchase mortgage applications, according to the Mortgage Bankers Association (MBA). At the same time, a separate survey measuring household mortgage application activity ticked down slightly. MBA found the volume of applications submitted for purchase mortgages rose 2% after the previous week’s 3.4% growth. It marks the highest purchase application index in a month, since the end of June, the MBA said. The volume of applications submitted for refinance fell 5.9% in the same week, pushing the refinance share of mortgage application activity down to 78%, from 79.4% last week. The adjustable-rate mortgage (ARM) share of application activity rose to 5.7% this week, from 5.2% the previous week. The Mortgage Maxx index, which adjusts data to reflect the number of households applying for a mortgage, showed household application activity continued to inch downward, slipping 0.9% in the same week after declining 0.4% in the week before. Write to Diana Golobay.

Most Popular Articles

FHA loan limits increasing for almost all of U.S. in 2020

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020.

Dec 05, 2019 By

Latest Articles

HUD dedicates $10 million to affordable housing

The U.S. Department of Housing and Urban Development announced it will invest $10 million to develop 538 affordable homes.

Dec 06, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please