Mortgage applications increase on higher purchase volume

The Mortgage Bankers. a measure of application volume, managed to increase a meager 0.1 percent on a seasonally adjusted basis when compared to the previous week. The unadjusted index fell 1.

Bottom Line: Mortgage rates nudged higher in the first two weeks of April, sending applications for mortgage refinancing lower. Purchase applications, though, held up, even inching a touch higher. Applications for 5-year Adjustable Rate Mortgages (5-year fixed then flowing with 30-year amortization schedule) came back down to a more normal share of overall applications after a surprising.

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Mortgage application volume was flat during the week ended June 28, as a 1% increase in applications for refinances was basically offset by a 1% increase in applications for purchases, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Total volume decreased 0.1% compared with the previous week.

Mortgage application volume rose 17.7 percent this week compared to one week earlier, according to the latest data from the Mortgage Bankers Association. That. MBA nationwide commercial mortgage.

Weekly mortgage applications drop 4.6% on higher rates. Despite higher rates, applications to purchase homes did manage a slight gain, up 1 percent from the previous week to the highest level.

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This represented a 1 percent increase from the previous week. Purchase mortgage application volume fell 2 percent on a seasonally-adjusted basis from the previous week and 6 percent on an unadjusted basis. When compared to the same week in 2011, the purchase index was 2 percent higher on an un-adjusted basis.

Higher levels of purchase activity even with rising interest rates drove the increase in mortgage applications compared with one week earlier, according to the Mortgage Bankers Association. The MBA’s Weekly Mortgage Applications Survey for the week ending Feb. 23 found that the refinance index decreased 1% from the previous week.

How to Pay Off your Mortgage in 5 Years according to MBA’s weekly Mortgage Applications Survey. The Refinance index fell 1% from the previous week and the unadjusted.