Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

MBA: Mortgage Applications Increase in Latest Weekly Survey

by
November 10, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

The stock-market rally survived a confusing week. Here’s what comes next.

Nvidia and 5 Other Stocks at High Risk for Short Selling

by Calculated Risk on 11/10/2021 07:00:00 AM

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage applications increased 5.5 percent from one
week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage
Applications Survey for the week ending November 5, 2021.

… The Refinance Index increased 7 percent from the previous
week and was 28 percent lower than the same week one year ago. The seasonally adjusted Purchase
Index increased 3 percent from one week earlier. The unadjusted Purchase Index increased 0.1 percent
compared with the previous week and was 4 percent lower than the same week one year ago.

“Mortgage rates moved lower for the second week in a row for all loan types. The 30-year fixed rate
decreased to 3.16 percent and has declined 14 basis points over the past two weeks. Although overall
activity remains close to January 2020 lows, homeowners acted on the decrease in rates. Refinance
activity was up 7 percent overall, with gains in both conventional and government refinances. Additionally,
the average loan balance for a refinance application was the highest in a month,” said Joel Kan, MBA’s
Associate Vice President of Economic and Industry Forecasting. “Purchase applications were also strong
last week, increasing just under 3 percent and down only 4 percent from last year’s pace. The dip in rates
might have helped to bring some buyers back into the market, but housing inventory is still extremely low
and price growth remains elevated.”

…
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
($548,250 or less) decreased to 3.16 percent from 3.24 percent, with points remaining unchanged at
0.34 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.
emphasis added

Click on graph for larger image.

The first graph shows the refinance index since 1990.

With relatively low rates, the index remains somewhat elevated, and the recent decline in rates has given the index a slight boost.

The second graph shows the MBA mortgage purchase index


According to the MBA, purchase activity is down 4% year-over-year unadjusted.

This is the smallest year-over-year decline in some time (purchase activity was strong in the 2nd half of 2020). However, this week last year was weak – so it is likely the year-over-year decline will be larger in coming weeks.

Note: Red is a four-week average (blue is weekly).
ShareTweetPin

Related Posts

The stock-market rally survived a confusing week. Here’s what comes next.

by
February 4, 2023
0

Despite a Friday stumble, stocks ended a turbulent week with another round of solid gains, keeping 2023’s young but robust...

Nvidia and 5 Other Stocks at High Risk for Short Selling

by
February 4, 2023
0

Nvidia and 5 Other Stocks at High Risk for Short Selling | Barron's Stocks have rallied in recent months, with...

Stock Market Rally Signals It’s No Bear Run; Tesla CEO Elon Musk Not Liable For ‘Funding Secured’ Tweets

by
February 4, 2023
0

Post Content

Some Medicare beneficiaries are surprised with premium surcharges, which can triple premiums. Here’s how to appeal and avoid them

by
February 4, 2023
0

S&P 500 4,136.48 -43.28(-1.04%)   Dow 30 33,926.01 -127.93(-0.38%)   Nasdaq 12,006.96 -193.86(-1.59%)   Russell 2000 1,985.53 -15.69(-0.78%)   Crude...

COVID Feb 3, 2023: Update on Cases, Hospitalizations and Deaths

by
February 4, 2023
0

by Calculated Risk on 2/03/2023 09:24:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. On...

Next Post

Borrowers rush to refinance, as mortgage rates drop for a second week

Decision time looms for the first spot bitcoin ETF. Here's why an actual launch could be years away

Leave a Reply Cancel reply

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

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net