Magical Trade
Wednesday, August 10, 2022
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

MBA: Mortgage Applications Increase in Latest Weekly Survey

by
November 24, 2021
in Trade News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Bank of America adds Meta to best ideas list, removes Alphabet

5 things to know before the stock market opens Wednesday

by Calculated Risk on 11/24/2021 07:00:00 AM

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

Mortgage applications increased 1.8 percent from one
week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage
Applications Survey for the week ending November 19, 2021.

… The Refinance Index increased 0.4 percent from the previous
week and was 34 percent lower than the same week one year ago. The seasonally adjusted Purchase
Index increased 5 percent from one week earlier. The unadjusted Purchase Index decreased 0.4 percent
compared with the previous week and was 4 percent lower than the same week one year ago.

“The financial markets continue to discern the Federal Reserve’s policy path in the coming months in light
of the current high growth, high inflation environment. Despite a fair amount of rate volatility last week,
mortgage rates were higher, with the 30-year fixed rate increasing 4 basis points to 3.24 percent,” said
Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “Despite the increase in
rates, refinance applications rose slightly, driven by a 2 percent gain in conventional refinances.
Borrowers continue to lock in mortgages in anticipation of higher rates in the future. Refinance
applications were still more than 30 percent below a year ago, when the 30-year fixed rate was 32 basis
points lower.”

Added Kan, “Purchase activity increased for the third straight week, as housing demand remains robust,
even as the housing market approaches the typically slower holiday season. Both conventional and
government loan applications increased, and the average loan size for a purchase loan was at $407,200,
continuing its ongoing 2021 run of being mostly above $400,000.”

…
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances
($548,250 or less) increased to 3.24 percent from 3.20 percent, with points decreasing to 0.36 from 0.43
(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, but down sharply from last year.

The second graph shows the MBA mortgage purchase index


According to the MBA, purchase activity is down 4% year-over-year unadjusted.

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

Related Posts

Bank of America adds Meta to best ideas list, removes Alphabet

by
August 10, 2022
0

Bank of America added Meta to its best investment ideas list called "US 1," while removing Google-parent Alphabet. The investment...

5 things to know before the stock market opens Wednesday

by
August 10, 2022
0

Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York, August 8, 2022. Andrew...

Disney’s earnings could define how the media industry views streaming’s future

by
August 10, 2022
0

In this article DIS A performer dressed as Mickey Mouse entertains guests during the reopening of the Disneyland theme park...

Morgan Stanley downgrades Allbirds, says stock is stuck until ‘path to profitability is more clear’

by
August 10, 2022
0

Shares of Allbirds could see limited upside until the path to profitability becomes more clear, according to Morgan Stanley. Analyst...

Wild swings in mortgage rates last week caused a rare surge in refinancing

by
August 10, 2022
0

An "Open House" sign at the Saratoga Homes Glendale Lakes community development in Arcola, Texas, on Tuesday, July 12, 2022....

Next Post

Stock futures decline as rising rates continue to unnerve investors, Gap shares lead retail lower

Not since Americans came home from World War II has inflation run through the economy like it is now

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

  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • ‘Conviction sell’: UBS says avoid these global stocks amid rising headwinds

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs "Will Higher Rates Put Out the Housing Fire?"

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net