Home Mortgage Application Volume Drops for Second Consecutive Week
For the second week in a row, home mortgage application volume was down. Last week mortgage application volume dropped 4.1% despite being up 83% year-over-year. The second consecutive week of application volume decreases comes as mortgage rates see a slight uptick to close January. The FHA’s share of mortgage application volume increased to 9.4% from 9.3% the previous week. The VA’s share of mortgage applications decreased tp 12.4% from 13.8% the previous...Mortgage Application Volume Dips
Home mortgage application volume dipped 1.9% this past week after jumping 16.7% week-over-week the period prior. This dip was paced by a 5% drop in refinance activity. Despite last weeks slight drop, as the start to 2021 continues, we should see strong mortgage application numbers for both first time and repeat home buyers. FHA’s share of mortgage application volume decreased to 9.3% of total application volume this past week. VA’s share of mortgage application volume increased to 15.8% of total application volume during the same...First Week of the New Year Sees Mortgage Application Volume Jump
In the first week of 2021, mortgage application volume jumped 16.7% according to a report from the Mortgage Bankers Association. This comes as no surprise as year after year the market sees a jump in mortgage application volume to begin January after a slow finish to the year prior due to the holiday season. An increase in refinance volume has once again been a major factor in rising application numbers, bringing them to the highest level since March of 2020. FHA’s share of mortgage applications dropped to 9.6% from 10.1% the week before. VA’s share of mortgage applications increased by 2.2% from last week, reaching...Mortgage Application Volume Drops Over Holidays
According to a report from the Mortgage Bankers Association, mortgage application volume was down 4.2% from two weeks ago. Every year during the holidays, home mortgage application volume dips slightly so this decrease comes as no surprise. The FHA’s share of total mortgage application volume remained unchanged from last week coming in at 10.1%. The VA share of total home mortgage application volume increased to 13.6% from 12.1% the week...2021 Housing Market Outlook
2020 has been a remarkable year for the housing market nationwide. Sales volume has been up compared to last year every month since June and home values are growing faster than they have in the last 15 years. In addition to home values rising, the time on market is almost three weeks lower than it was in 2019. This year over 5.66 million homes have been sold and market analysts believe next year that number will rise even further, hitting a possible 6.9 million homes sold. As supply continues to dwindle and demand continues to rise along with the adaption of more technology increasing the ease of purchasing a home, 2021 should be another strong year for the housing...Connect With Us
