While mortgage applications decreased for the week of February 4, 2011 according to the Mortgage Bankers Association (MBA), the refinance share of applications dropped to just 66.6 percent of all home loans. Average mortgage rates rose slightly from 5.12 percent with 0.29 points on a 30-year fixed-rate loan to 5.17 with 0.31 points for the [...]
The Mortgage Bankers Association (MBA) says that for the past two weeks (January 17 to January 28, 2011) mortgage applications have been relatively flat for a home purchase and declined by five percent for refinance applications. The MBA Weekly Mortgage Applications Survey for the week ending January 28, 2011, showed an increase in mortgage [...]
Mortgage rates declined slightly during the week ending January 14, 2011, resulting in an uptick in home loan applications, particularly for a mortgage refinance. The Weekly Mortgage Applications Survey by the Mortgage Bankers Association (MBA) rose by five percent on a seasonally adjusted basis over the previous week. Refinancing applications represent 73 percent of mortgage [...]
With mortgage interest rates dropping slightly, the Mortgage Bankers Association (MBA) reported an increase of 2.2 percent in mortgage loan applications for the week ending January 7, 2011. The refinance share of mortgage applications rose to 72.1 percent of all home loan applications, compared to 71 percent the previous week. While mortgage experts expect an [...]
Mortgage applications dropped during the Thanksgiving holiday week, even after adjusting for the vacation day, according to the Mortgage Bankers Association (MBA). For the third week in a row, during the week ending Nov. 26, 2010, the number of refinancing applications decreased, this time by 21.6 percent. The MBA’s Refinance Index dropped to the lowest [...]
Recent decreases in home values have left many homeowners with less equity than when they purchased their home. While lenders are typically willing to refinance a mortgage when the borrowers have at least five or ten percent equity, private mortgage insurance (PMI) is required on homes with less than 20% equity. PMI is required by [...]
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