· The rise in mortgage applications last week doesn’t make sense – unless you factor in fear. Interest rates rose, but borrowers may have jumped in, especially to refinance their current loans, worried that the long run of record low rates is over.
· Last week, the average loan size for purchase mortgage applications hit an all-time high, according to the most recent data from the Mortgage Bankers Association. The data is courtesy of the MBA’s Weekly Mortgage Applications Survey for the week ending on March 3, 2017. The data showed that the average loan size for purchase applications [.]
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· Purchase Apps Up, Refis Down in MBA Weekly Survey. Mortgage applications rose for the third straight week, as a jump in purchase applications more than offset a decline in refinancings, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending March 9.
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This last week’s sharp drop in the Mortgage Bankers Association purchase index was reminiscent of the early 2014 drop. Remarkably, purchase application volume is. mortgage demand will likely halt.
The Mortgage. last February was a particularly strong month for applications, as was March 2016. The surprisingly strong employment numbers for the beginning of 2017 suggest that demand for new.
· The Weekly Mortgage Application Survey ending June 9, 2017 has shown an increase in the mortgage applications by 2.8 percent from the previous week. This survey is conducted by the Mortgage Bankers Association ( MBA ) on a week-over-week basis.
Home loan rates tend to follow the movement of long-term bonds. When yields move higher, rates tend to rise. benefits as mortgage rates near record lows] Fueled by a continued surge in refinances,
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The key to whether or not refinancing makes sense is how long the homeowner intends to remain in his or her home. The costs of the refinancing, which can run $1000-2000, are amortized over the life of the loan. For many people, a reduction of $50 or more in the house payment would be more than enough to justify a new mortgage.
Although mortgage applications slightly rose for the week ending May 17, 2019, ongoing trade concerns.
“Mortgage rates are rising as Treasury bond yields rise. last week marked the fifth straight week with a year-over-year increase,” said Bob Broeksmit, MBA’s president and chief executive. “Also, we.