• Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Dividend Stocks Report
No Result
View All Result
Home Stock News

MBA: Mortgage Applications Increase in Latest Weekly Survey

by
November 24, 2021
in Stock News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

Russia Is Hours Away From Its First Foreign Default in a Century

Metals Haven’t Crashed This Hard Since the Great Recession

Dow Jones Futures: Market Rally Gains Steam; 9 Stocks To Watch

Pessimism on chip stocks is hitting a new high, and the money seems to be flowing toward software

by Calculated Risk on 11/24/2021 07:00:00 AM

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

Mortgage applications increased 1.8 percent from one
week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage
Applications Survey for the week ending November 19, 2021.

… The Refinance Index increased 0.4 percent from the previous
week and was 34 percent lower than the same week one year ago. The seasonally adjusted Purchase
Index increased 5 percent from one week earlier. The unadjusted Purchase Index decreased 0.4 percent
compared with the previous week and was 4 percent lower than the same week one year ago.

“The financial markets continue to discern the Federal Reserve’s policy path in the coming months in light
of the current high growth, high inflation environment. Despite a fair amount of rate volatility last week,
mortgage rates were higher, with the 30-year fixed rate increasing 4 basis points to 3.24 percent,” said
Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “Despite the increase in
rates, refinance applications rose slightly, driven by a 2 percent gain in conventional refinances.
Borrowers continue to lock in mortgages in anticipation of higher rates in the future. Refinance
applications were still more than 30 percent below a year ago, when the 30-year fixed rate was 32 basis
points lower.”

Added Kan, “Purchase activity increased for the third straight week, as housing demand remains robust,
even as the housing market approaches the typically slower holiday season. Both conventional and
government loan applications increased, and the average loan size for a purchase loan was at $407,200,
continuing its ongoing 2021 run of being mostly above $400,000.”

…
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
($548,250 or less) increased to 3.24 percent from 3.20 percent, with points decreasing to 0.36 from 0.43
(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, but down sharply from last year.

The second graph shows the MBA mortgage purchase index


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

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

Stock futures decline as rising rates continue to unnerve investors, Gap shares lead retail lower

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!

Popular Posts

Stock News

Russia Is Hours Away From Its First Foreign Default in a Century

by
June 26, 2022
0

Reuters Analysis-Running short of gas: Russia's pipeline repair has Europe worried When Russia turns off the gas through the Nord...

Read more

Russia Is Hours Away From Its First Foreign Default in a Century

Metals Haven’t Crashed This Hard Since the Great Recession

Dow Jones Futures: Market Rally Gains Steam; 9 Stocks To Watch

Pessimism on chip stocks is hitting a new high, and the money seems to be flowing toward software

G-7 nations to announce import ban on Russian gold as Moscow sanctions widen

Rhode Island cop arrested for assault on political opponent at abortion rights rally

Load More

All rights reserved by www.dividendstocksreport.net

  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.