Very slight increase in mortgage application volume this week

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A slight increase last week caused total mortgage application volume to fall 2.3 percent, according to the mortgage bankers association‘s seasonally adjusted report. applications to refinance led the.

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Interest rates dropped last week, so buyers took advantage. CNBC reports that mortgage application volume rose 3 percent on a seasonally adjusted basis from the previous week. The increase is likely due to last week’s .03 percentage point drop in the average contract interest rate for a 30-year fixed-rate mortgage, which is now down to 4.14 percent.

The Market Composite Index, a measure of mortgage loan application volume, increased 0.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index was essentially unchanged compared with the previous week.. Mortgage Apps See Slight Week-Over-Week Rise.

MBA: Mortgage applications post slight decline Brena Swanson is formerly the Digital Reporter for HousingWire. Brena joined the HousingWire news team in February 2013, also serving in the roles of.

Mortgage application volume rises. On an unadjusted basis, the volume actually rose 16.0 percent compared to the previous week. The Refinance Index rose 5.0 percent from one week earlier, but remains the sore spot in this indicator, remaining 11.0 percent lower than the two weeks prior and 36 percent lower than last month’s peak.

Total volume is still down, however, 4.3 percent year-over-year. On the other hand, higher interest rates have kept the refinancing business very low. Mortgage applications to refinance a home loan fell 4 percent for the week – to the lowest level since December 2000. Refinance volume is nearly 21 percent lower than the same week one year ago.

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Mortgage app volume increases as refi share slips.. Mortgage application volume increased during the week ending Jan. 19, while refinances recorded a decline in their share of overall activity.

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Just a slight trend higher in interest rates was enough to stall both potential home buyers and borrowers looking to refinance their loans. Total mortgage application volume fell 7.2 percent last week from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association (MBA).

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