The majority of mortgage applications these days are for homeowners refinancing their home loans, according to the Mortgage Bankers Association (MBA). Refinancing borrowers tend to pick a fixed-rate home loan and many are also choosing to shorten their loan terms. The MBA’s Refinance Index for the week ending February 10, 2012 showed that refinance applications [...]
...Read MoreMortgage rates reached record lows for 30-year fixed-rate home loans, 15-year fixed-rate home loans and for a 5/1 adjustable rate mortgage last week and homeowners jumped at the opportunity to refinance. Applications for a mortgage refinance increased 9.4 percent during the week ending February 3, 2012 compared with the previous week, according to the Mortgage [...]
...Read MoreWhile mortgage rates stayed low last week, fewer homeowners applied for a home refinance. One possible reason may be that home prices remain flat or have dropped in 19 of 20 cities, according to the S&P/Case-Shiller Home Price Index. The Refinance Index, which reports how many homeowners apply for a mortgage refinance each week, dropped [...]
...Read MoreThe spike in mortgage applications during the week ending January 13, 2012 was followed by a dip in the number of applications last week, according to the Mortgage Bankers Association (MBA). Mortgage rates also rose slightly last week. While mortgage applications may have declined because of the slight uptick in mortgage interest rates, the decrease [...]
...Read MoreThe Mortgage Bankers Association (MBA) reported that applications for a mortgage refinance rose by 26.4 percent during the week ending January 13, 2012 compared to the previous week. The MBA’s Refinance Index reached the highest level since August 8, 2011 and the refinance share of mortgage applications rose to 82.2 percent. “Interest rates dropped last [...]
...Read MoreIf your New Year’s resolution was to apply for a mortgage refinance, you are not alone. More refinancing applications were completed during the first week of 2012 than during the holiday season, even when adjusted for vacation days. The Mortgage Bankers Association (MBA) reported that for the week ending January 6, 2012, the Refinance Index, [...]
...Read MoreMortgage bankers did not receive much of a holiday gift from consumers in 2011, since applications for both a home refinance and new home loans decreased during the last two weeks of 2011 even when the statistics are seasonally adjusted, according to the Mortgage Bankers Association (MBA). The Weekly Mortgage Applications Survey for the weeks [...]
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The majority of mortgage applications these days are for homeowners refinancing their home loans, according to the Mortgage Bankers Association (MBA). Refinancing borrowers tend to pick a fixed-rate h Read More>>
Record low mortgage rates rev up refinance applications Refinance activity slow in spite of low rates
