MBA: Mortgage applications decline further as refinances slide

Separately, the Mortgage Bankers Association’s (MBA) survey of applications. week and refinances decreased around two percent, led by a larger decline in government refinances compared to.

Mortgage applications soared during the week ended June 7 as interest rates declined further. While applications for home purchases were up, it was refinancing that again drove the overall numbers.

After weeks of volatile interest rates, markets settled slightly last week, but that didn’t help the mortgage business. Total mortgage application. lynn fisher, MBA’s vice president of research and.

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U.S. Mortgage Applications Rose Last Week: MBA The FOMC announced that it would add mortgage-backed securities purchases to its current maturity extension program in an effort to push mortgage rates down further. loan applications increased.

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An 8.0 percent jump in the refinance index, one that followed six weeks of flat results, offset a 2.0 percent decline in the purchase index to make for a 2.4 percent gain in the mortgage bankers’ association composite index. The rise in refinancing reflects a new move lower in mortgage rates as 30.

MBA found that the refinance share of mortgage activity increased to 40.4% of total applications from 37.9%. The share of adjustable-rate mortgage applications decreased to 7.4%.

Mortgage application activity was on the decline, while homeowner perceptions of their residential property values improved, according to two new data reports. The Mortgage Bankers Association (MBA) reported that its Market Composite Index decreased 2.4 percent on a seasonally adjusted basis from.

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The refinance share of mortgage activity accounted for 37.9 percent of all applications. “Despite the modest decline, low rates and the healthy economy continue to propel activity higher than the same.

Once mortgage rates fell more than 50 bps from the highs of last year, a number of recent buyers were able to refinance. But it would take another significant decrease in rates to see a further increase in refinance activity. The second graph shows the MBA mortgage purchase index According to the MBA, purchase activity is up 7% year-over-year.