Mortgage Applications on the Downturn Once Again
According to data from the Mortgage Bankers Association’s weekly survey, mortgage application volume decreased 2.3% the week ending August 12th. The current rate at which people are applying for mortgages is at the lowest level since 2000. Refinances specifically decreased 5% from the previous week and totaled 82% lower year-over-year. Refinances still made up about 31.2% of total application volume during this last period. The FHA share of mortgage applications decreased from 12.1% to 12% this past week. The VA share of mortgage applications increased from 10.9% to 11.2% this past...After Weeks of Decreases, Mortgage Application Numbers Rise this Week
According to a report from the Mortgage Banker’s Association, mortgage applications saw a modest 0.2% increase the week ending August 5th. Refinance volume rose enough to barely edge out the decrease in new purchase applications marking an overall gain in application volume. Refinance applications made up 32% of total applications last week. As rates continue to remain volatile, being ready to act on financing applications will provide an advantage. The FHA share of mortgage applications increased to 12.1% from 11.9% the previous week. The VA share of mortgage applications increased to 10.9% from 10.8 the previous...Mortgage Applications Decrease for the Fourth Straight Week
According to data from the Mortgage Bankers Association’s weekly survey, mortgage application volume decreased 1.8% in the week ending July 22nd. This marks the fourth straight week less mortgage applications have been submitted. Refinance applications specifically have decreased 4% from the previous week and were 83% lower than this same time last year. Mortgage rates have begun to stabilize after the volatility of the last few months but increased economic uncertainty has caused some potential buyers to drag their feet. The FHA share of mortgage application volume decreased from 12.4% to 12.1% this past week. The VA share of mortgage application volume remained at 10.6% this past...New Mortgage Interest Drops According to New Survey
According to the most recent survey from the Mortgage Bankers Assocation, new mortgage application numbers have decreased 6.3% for the week ending July 15th. This marks the third week in a row that new mortgage applications have dropped. The demand for refinances specifically has reached a 22-year low making up only 31.4% of total applications. The FHA share of total application volume increased from 11.7% to 12.4% this past week. The VA share of total application volume decreased from 11.2% to 10.6% this past...New Application Numbers Dip Once Again
According to a report from the Mortgage Bankers Assocation new mortgage applications decreased 1.7% for the week ending July 8th. Refinance application volume increased 2% during the same period and was 80% lower than this same time a year ago. Refinances made up 30.8% of total application volume during this period. The FHA share of mortgage application volume decreased from 12% to 11.7% this period. The VA share of mortgage application volume increased from 11.1% to 11.2% this...Connect With Us
