MBA: Mortgage application volume up as refinancings increase
September 23rd, 2011 6:38am
| Share This |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
 |
 |
The Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending September 16 revealed the volume of home loan submissions increased as more homeowners attempted to refinance their mortgages.The Market Composite Index, which measures mortgage loan application volume, increased 0.6 percent on a seasonally adjusted basis during the week. Unadjusted, the index was up 25.2 percent. The Refinance Index also grew, jumping 2.2 percent from the week before, while the Purchase Index was down 4.7 percent on an adjusted basis. Unadjusted the index increased 17.1 percent.
The four-week averages for each of the indices decreased during the week, according to the report. The Market and Refinance Indices' four-week averages were down 3.15 percent and 0.54 percent, respectively, while the Purchase Index average fell 3.91 percent on an adjusted basis.
Overall, refinance applications accounted for 78.3 percent of submissions, which is up from 76.8 percent the week before.
With more mortgage applications being submitted, the Houston real estate market may conduct even more sales in September after sales increased in August.
Courtesy of 2M Realty News
Related News Articles in Mortgages
- NAHB official: Proceed cautiously with FHA reform efforts
Any attempts to reform the Federal Housing Administration need to ensure that the changes made don't affect borrowers' ability to access affordable home loans, according to leading official from the National Association of Home Builders.April 15th, 2013 4:16am - Texas once again one of the nation's most popular destinations for relocating
Whether it's because of the favorable employment conditions, warm weather or Southern hospitality, Texas had some of the fastest-growing metropolitan areas last year.April 9th, 2013 3:57am - Real estate tours, offers rise in March
According to the technology-powered real estate broker, the number of people who went on tours of a home that was for sale jumped 9 percent in March from February. At this time last year, the increase was just 4 percent.April 8th, 2013 4:15am - Loan application volume slips in February's final full week
Mortgage activity wasn't quite as robust as it's been in the past on a national level, as a new report indicates that fewer applications were submitted recently.February 28th, 2013 4:10am - Mortgage delinquencies tumble
More homeowners are showing that they have the financial wherewithal to afford their home loans, recent data suggests.February 13th, 2013 4:29am
My Account
Log in, to view your saved searches and add to your favorite listings.
Forgot your password? Click here!
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends
