Monday , October 15 2018
Home / Calculated Risk / MBA: Mortgage Applications Increase in Latest Weekly Survey

MBA: Mortgage Applications Increase in Latest Weekly Survey

Summary:
From the MBA: Mortgage Applications Increase in Latest MBA Weekly SurveyMortgage applications increased 4.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 1, 2017. The prior week’s results included an adjustment for the Thanksgiving holiday.... The Refinance Index increased 9 percent from the previous week. The seasonally adjusted Purchase Index increased 2 percent from one week earlier. The unadjusted Purchase Index increased 38 percent compared with the previous week and was 8 percent higher than the same week one year ago. ...The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (4,100 or less) decreased to 4.19 percent from

Topics:
Bill McBride considers the following as important:

This could be interesting, too:

Tyler Durden writes Internet Censorship Just Took An Unprecedented Leap Forward, And Hardly Anyone Noticed

Tyler Durden writes Syria, Israel To Reopen Golan Heights Crossing On Monday: Haley

Tyler Durden writes Why Used-Car Prices Are Plunging

Charles Hugh Smith writes How Many Households Qualify as Middle Class?

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 4.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 1, 2017. The prior week’s results included an adjustment for the Thanksgiving holiday.

... The Refinance Index increased 9 percent from the previous week. The seasonally adjusted Purchase Index increased 2 percent from one week earlier. The unadjusted Purchase Index increased 38 percent compared with the previous week and was 8 percent higher than the same week one year ago. ...

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) decreased to 4.19 percent from 4.20 percent, with points increasing to 0.40 from 0.34 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.
emphasis added
MBA: Mortgage Applications Increase in Latest Weekly Survey Click on graph for larger image.


The first graph shows the refinance index since 1990.

Refinance activity will not pick up significantly unless mortgage rates fall well below 4%.



MBA: Mortgage Applications Increase in Latest Weekly SurveyThe second graph shows the MBA mortgage purchase index.

According to the MBA, purchase activity is up 8% year-over-year.
Bill McBride
A full time blogger, Mr. McBride retired as a senior executive from a small public company in the '90s. Mr. McBride holds an MBA from the University of California, Irvine, and has a background in management, finance and economics.

Leave a Reply

Your email address will not be published. Required fields are marked *