Skip to main content

Mortgage Applications Take a Slight Decline

Feb 01, 2017
Inquiries into home loans were on the decline last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 27

Inquiries into home loans were on the decline last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 27.
 
The Market Composite Index dropped by 3.2 percent on a seasonally adjusted basis from one week earlier, although the unadjusted index increased by 11 percent compared with the previous week. The seasonally adjusted Purchase Index fell six percent, but the unadjusted index increased 12 percent compared with the previous week and was two percent higher than the same week one year ago. The Refinance Index dipped by one percent from the previous week and the refinance share of mortgage activity decreased to 49.4 percent of total applications from 50 percent the previous week.
 
Among the federal programs, the FHA share of total applications decreased to 12.1 percent from 13.6 percent the week prior while the VA share of total applications increased to 12.4 percent from 12.2 percent and the USDA share of total applications remained unchanged at 0.9 percent.  
About the author
Published
Feb 01, 2017
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024