Refinance application share hits eight-year low: MBA

Mortgage Application Defect Rate Falls For First Time in Eight Months – As result, when the refinance share increases, the rate of defects in. from 1.67 million in March, which is a 1.7% increase year-over-year.. will it result in even lower levels of application defects in the months to. California MBA Weekly Video Update – 6/19/17- 6/23/17. write css OR LESS and hit save.

The new stats show mortgage applications declined only slightly from last week, but have now hit their lowest level since December 2000. According to the MBA’s data, the Market Composite Index, which.

The share of refinancing applications shrank to 42.6 percent form 44.0 percent the preceding week, MBA said. The MBA’s seasonally adjusted gauge of purchase application activity, a proxy for future home sales, edged up 0.7 percent to 239.8. The share of applications for adjustable-rate mortgages was unchanged from the previous week at 8.5 percent.

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20 hours ago. Withdrawals as a share of available equity are down 16 percent over that same span.. and on an annual basis, hitting a 5-year low and falling below withdrawals through cash-out refis for the first time in more than eight years. mortgage apps 93.11%; |; Refinance Index 3.21%; |; Purchase Index 0%.

Comments Off on Refinance Application Share Hits Nine-Year Low Posted To: MND NewsWire The Mortgage Bankers Association (MBA) said today that mortgage applications were down across the board during the week ended May 12, with refinancing taking the biggest hit.

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Source: MBA’s Quarterly Mortgage Bankers Performance Report; Production profitability for independent mortgage banks increased to 7.5 basis points (bps) – $285 per loan – in the first quarter of 2019, from a reported loss of 11 bps ($200 per loan) in the fourth quarter of 2018, according to the MBA’s Quarterly Mortgage Bankers Performance Report, released last week.

Even with lower rates on three of the five surveyed loan types, refinance. The FHA share of total applications ticked up to 9.6 percent from 9.4 percent. The average contract interest rate for 30-year fixed-rate mortgages (FRM). MBA's Weekly Mortgage Applications Survey been conducted since 1990.

Rates on home loans have responded by easing from eight-year highs registered in November.. sales of newly built homes in October fell by the most in 10 months and hit a two-year low. Sales of.

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Mortgage Applications Hit 4-Year Low as Rates Continue to Rise; The Market Composite Index, a measure of mortgage loan application volume, decreased 4.0 percent on a seasonally adjusted basis from one week earlier to the lowest level since December 2014, according to the Mortgage Bankers Association.