Posts Tagged ‘purchase applications’

Potential Home Buyers Shift Attention to Holiday Shopping

December 6th, 2013 Comments off

The number of people looking to buy a home in November dropped seven percent from October, but it was less than the 11 percent drop for the same period last year, according to what Redfin tells nationalmortgagenews. Meanwhile, eleven percent fewer people signed offers in Nov. over Oct., but an improvement over the 14 percent decline for the same month-to-month in 2012. But as MHProNews has learned, tours were down 28 percent the week of Thanksgiving from the previous week, and offers fell 23 percent. Additionally, mortgage applications declined 13 percent that same week, seasonally adjusted, with a four percent drop in purchase applications, according to the Mortgage Bankers Association (MBA).

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Mortgage Apps at Highest Level in 20 Months

January 16th, 2013 Comments off

NationalMortgageNews reports on a seasonally adjusted basis, purchase applications rose 13 percent over the week ending Jan. 4, but are up 47 percent on an unadjusted basis, their highest level since April 2011, according to the Mortgage Bankers Association (MBA). Noting home sales burgeoning in Calif. in Dec. because of concerns over the fiscal cliff, DataQuick says home sales in Southern Calif. are at their highest level in three years. As MHProNews understands, Calif. once had one of the higher foreclosure rates in the nation. The average contract interest rate for a 30-year fixed rate mortgage (FRM) with conforming loan balances stood at 3.61 percent, while the average for an FHA-insured loan of 30 years rose four basis points to 3.39 percent. The MBA also says a jumbo 30-year FRM rose ten basis points to 3.88 percent, while the 15-year jumbo remained steady at 2.88 percent.

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Mortgage Apps Fall

October 10th, 2012 Comments off

In the latest weekly report from the Mortgage Bankers Association (MBA), nationalmortgagenews says mortgage applications dropped 1.2 percent for the latest weekly reading Oct. 5 following a 16.6 percent spike for the previous week ending Sept. 28. Refi applications accounted for 83 percent of the apps, much the same as the previous week. Many mortgage analysts and lenders expect October to be a very strong month, perhaps stronger than Sept. As MHProNews as learned, MBA’s Mike Fratantoni said refi volumes are “still near three-year highs, and purchase applications increased to the highest level since June, with both conventional and government volumes increasing.” Average 30-year fixed-rate mortgages (FRMs) were going for 3.56 percent while 15-year FRMs fell to 2.88 percent, the lowest in the history of the survey.

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