Weekly Mortgage Applications Rise 8.2%: MBA
A survey of gross mortgage applications increased, while a second survey measuring household activity declined last week. The Mortgage Bankers Association (MBA) survey of gross applications increased 8.2% for the week ending October 30, compared to the previous week. Mortgage Maxx’s survey, which adjusts gross mortgage volume to account for the number of households submitting applications, decreased 6%. MBA’s refinance index increased 14.5% from the previous week and the purchase index decreased 1.8%. Refinance mortgages took a 66.1% share of total applications, the MBA said, up from 62.3% the previous week. Adjustable-rate mortgages (ARMs) decreased to 6.1% from 6.9%. Write to Austin Kilgore.