Application volume is flat as refinance activity slows

Weekly mortgage applications remained relatively flat last week compared to the previous week amid record-low U.S. mortgage rates, according to data released Wednesday by the Mortgage Bankers.

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Mortgage application activity was virtually flat from one week earlier, down just 0.1%, although there was a huge gain in Federal Housing Administration refinance volume, according to the Mortgage Bankers Association. The MBA’s Weekly Mortgage Applications Survey for the week ending June 28 found that the refinance index decreased 1% from the previous week, while [.]

entirely by refinance scores. Refinance credit scores fell 27 points from October 2016 (752) to April 2017 (725). Purchase FICOs, in contrast, declined only 4 points (729 to 725). The figure below shows this clearly. One possible explanation for the refinance-driven reduction in.

How to BUY and REFINANCE a Property in 2018 | Samuel Leeds & Kevin Wright Refinance mortgage applications accounted for 58.7% of total application volume, down from 63.2% in the previous week. That’s the lowest share of refinance loans since the week ending August 28.

Mortgage application volume rises again on refinance activity refinances drove mortgage applications up for the second week as mortgage rates remained low, and overall application volume was at the highest level since June 2013 last week, according to the weekly Mortgage Bankers Association (MBA) applications survey released today.

The market composite index – a measure of total loan application volume – fell 3.2 percent from last week. The refinance index slipped 1 percent, while the purchase index dropped 6 percent. The.

A year later, $1.7 trillion in origination volume is expected, with refis flat from a year earlier and purchases rising again to $1.3 trillion. By 2020, the refi share will have dropped to just 23% of total applications, down from around 50% in 2016 and 36% this year.

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