Meanwhile, mortgage applications were flat last week. dropped 5 percent. The refinance share of mortgage activity accounted for 53 percent of all applications. “Mortgage activity was lackluster.
The market composite index – a measure of total loan application volume. economist. “Refinance applications, however, were flat over the week, held up by an increase in VA refinances.” More Real.
While most of the drop stemmed from a continued reduction in refinance activity, applications to purchase a home also fell. Refinance volume, which is highly sensitive to even the smallest moves in interest rates, has been weak all year because mortgage rates jumped after the November election and haven’t come down much.
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The refinance share of mortgage activity decreased to 73.4 percent of total applications, the lowest since July 2011, from 75.1 percent the previous week. "With the rate increase last week, refinances are obviously slowing, and the refinance share at 73% is down to its lowest level since last July.
According to the mortgage bankers association’s Weekly Applications Survey, average mortgage rates rose last week from the week before. Rates were up across all loan categories, including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans.
Mortgage application volume rises again on refinance activity. – Mortgage application volume rises again on refinance activity. refinances drove mortgage applications up for the second week as mortgage rates remained low, and overall application volume was at the highest level since June 2013 last week, according to the weekly mortgage bankers association (mba) applications survey released today.
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Important and relative economic data was reported on each day via a regular report on mortgage activity. It showed swings in refinance activity that. it rose again to 39% of total application.
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Applications flat, but refinance activity picks up A drop in home loan demand from consumers looking to purchase a new home pushed overall mortgage activity lower in the past week, but decreasing mortgage rates drove refinance applications higher on a weekly basis.
Mortgage rates were essentially flat. loan application volume – decreased 1.7 percent from a week earlier. The refinance index fell 3 percent from the previous week, while the purchase index.
· The share of refinance mortgages increased from 45.8% to 46.8%, week-on-week in the week ending 11 th January, following on from the previous week’s increase from.