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

MBA: Mortgage Applications Decrease in Latest Weekly Survey

by
November 17, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Baidu’s robotaxis don’t need any human staff in these parts of China

My wife and I have $750,000 in savings and earn over $144,000 a year. Can we afford to spend $5,000 per month on housing?

by Calculated Risk on 11/17/2021 07:00:00 AM

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

Mortgage applications decreased 2.8 percent from
one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage
Applications Survey for the week ending November 12, 2021.

… The Refinance Index decreased 5 percent from the previous
week and was 31 percent lower than the same week one year ago. The seasonally adjusted Purchase
Index increased 2 percent from one week earlier. The unadjusted Purchase Index decreased 2 percent
compared with the previous week and was 6 percent lower than the same week one year ago.

“Refinance applications decreased for the seventh time in eight weeks, as mortgage rates moved higher
after two weeks of declines. Activity has been particularly sensitive to rate movements, and last week’s
decline was driven by a drop in conventional and FHA refinance applications, which offset an increase in
VA refinance applications. All mortgage rates in MBA’s survey increased, with the 30-year fixed rate
climbing to 3.2 percent.” said Joel Kan, MBA’s Associate Vice President of Economic and Industry
Forecasting. “Purchase applications increased for both conventional and government loan segments, as
housing demand continues to show resiliency at a time – late fall – when home buying activity typically
slows. The second straight increase in purchase applications suggests that stronger sales activity may
continue in the weeks to come. Despite elevated demand, purchase applications were 5.7 percent lower
than a year ago.”

…
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
($548,250 or less) increased to 3.20 percent from 3.16 percent, with points increasing to 0.43 from 0.34
(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.

The second graph shows the MBA mortgage purchase index


According to the MBA, purchase activity is down 6% year-over-year unadjusted.

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

Related Posts

Baidu’s robotaxis don’t need any human staff in these parts of China

by
August 8, 2022
0

Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human staff in the vehicles. Baidu...

My wife and I have $750,000 in savings and earn over $144,000 a year. Can we afford to spend $5,000 per month on housing?

by
August 8, 2022
0

Dear MarketWatch, Financial advisers recommend spending no more than 30% of take-home pay on housing. I have always lived by...

Apple: Is Advertising the Next Big Revenue Generator? Analyst Weighs In

by
August 8, 2022
0

',panelEmptyTemplate=' {emptyPanelMsg} ',panelErrorTemplate=' {errorMsg} ',panelParentTemplate='',notifOnboardPromoTemplate='',EXPANDED_PANEL="expanded_panel",ERROR_PANEL="error_panel",NotificationView=function(){function e(n,t){classCallCheck(this,e);var i=this;i._config=n,i._panelNode=null,i._store=t}return createClass(e,[{key:"_generatePanelMarkup",value:function(e,n){var t=this._config,i=void 0,o=void 0;"undefined"!=typeof window&&(i=window.Notification&&"default"===window.Notification.permission,o=t.promos.bypassEligibleClassCheck||hasClass(document.body,t.promos.eligibleBodyClass));var r=t.promos.enableNotifOnboard&&i&&o?notifOnboardPromoTemplate:"";if(r){var s=t.promos.showYahooLogo?"":"yns-no-logo";r=r.replace("{notifOnboardBtnLabel}",t.promos.notifOnboardBtnLabel).replace("{notifOnboardMsg}",t.promos.notifOnboardMsg).replace("{subscriptionTopic}",t.promos.subscriptionTopic).replace("{noLogoClass}",s).replace("{promoLogo}",t.promos.promoLogo)}var a=n.newCount>t.panel.maxCount?n.newCount:"",c=t.panel.notificationCenterPath,l=c?"":constants.panelHideElement,d=t.panel.headerMsg?"":" "+constants.panelHideElement,u=c?constants.panelPaddingBtm:"",p=void 0;n.count?p=n.markup:p=panelEmptyTemplate.replace("{emptyPanelMsg}",t.panel.emptyPanelMsg);return e=e.replace("{notifMarkup}",p).replace("{promoMarkup}",r).replace("{hideClass}",l).replace("{notifCenterLink}",c).replace("{paddingClass}",u).replace("{headerMsg}",t.panel.headerMsg).replace("{hideHeaderClass}",d).replace(/{notificationCenterNavMsg}/g,t.panel.notificationCenterNavMsg).replace(/{newCount}/g,a)}},{key:"render",value:function(e,n){var t=this;if(t._panelNode){var i=void...

BlackRock: The era of steady growth has ended, but here’s how investors can prepare for it

by
August 8, 2022
0

BlackRock says world markets have become more volatile, and they're going to stay that way for a while. The world's...

Asia-Pacific markets slip in early trade; SoftBank earnings ahead

by
August 8, 2022
0

SINGAPORE -- Futures in the Asia-Pacific pointed to a lower open Monday, with SoftBank set to report earnings after the...

Next Post

Target tops earnings estimates, but shares fall as retailer focuses on keeping customer prices low

Lowe's tops estimates as customers invest in bigger home projects, retailer lifts sales forecast

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!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Allbirds stock has plunged 50% in two months, now one top analyst says buy it

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com