MBA: Mortgage applications slide 0.6% from last week

Adjustable rate mortgage loans accounted for 6.3% of all applications, down 0.1 percentage points compared with the prior week. According to the MBA, last week’s average mortgage loan rate for a.

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 · Two weeks ago the SOX gained a sizeable 5.6% and was then up another 4.2% going into the final session of last week.

MBA Mortgage Applications. The average rate on a conforming 30-year fixed mortgage last week was 5.11% in the. The increase in applications to refinance boosted their market share at the moment.. Government purchases were up 3.3 % and contributed 0.6% of the growth of the overall economy.

The Veterans Affairs’ share of applications declined to 10.9% from last week’s 11.3%. The Department of Agriculture ‘s share of total applications held its ground from last week’s 0.6%.

Mortgage applications down 2.5% vs. previous week President Trump tells HUD Secretary Ben Carson to slash building regulations (mba.org) The kitchen and bath remodeling biz is booming (realestateconsulting.com) Mortgage applications up 1.3% last week (mba.org) Read More

WASHINGTON, D.C. (April 10, 2019) – Mortgage applications decreased 5.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 5, 2019. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.6 percent on a seasonally adjusted basis from one week earlier.

Applications. percent last week as rates dropped for the fourth straight week, the Mortgage Bankers Association said Wednesday. The refinancing volume drove a 2.4% increase in overall mortgage.

MBA Mortgage Applications Rising rates certainly had an effect on applications last week as purchase applications were down 6.0% and refinancing applications fell 2.0%. Overall applications fell 4.1% as the average rate on a 30-year-fixed conforming mortgage was up eight basis points to 4.57%.

The refinance share of mortgage activity fell to 38.8% of total applications, down from 39.4% the previous week. The FHA share of total applications fell to 9.5% from 9.9%, the VA share fell to 10.9% from 11.3%, and the USDA share remained unchanged at 0.6%.

The USDA share of total applications increased to 0.7 percent from 0.6 percent the week prior. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) decreased to 4.96 percent, the lowest level since September 2018, from 5.08 percent, with points increasing to 0.48 from 0.44 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

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