Mortgage applications increase on higher purchase volume

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Mortgage applications increased last week thanks to a strong uptick in purchase demand. It’s important to note the data included an adjustment for the Memorial Day holiday. Meanwhile, mortgage.

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The end of summer saw a spike in mortgage purchase applications. The housing market had been expecting some sort of increase, but no one expected the increase to come so soon. Around September, we saw a 9.9% increase in home buying applications. This was a nice surprise considering purchase applications had been declining before this boost.

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.

Mortgage rates dropped again for most loan types, which led to an increase in refinance activity, partly driven by a 9 percent jump in VA applications," said Joel Kan, MBA’s Associate Vice.

Mortgage application volume declined during the week ended May 24, more than reversing a 2.4 percent increase a week earlier. Both refinancing and purchase activity moved lower.

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The average number of mortgage applications slid 2.1% on a seasonally adjusted basis as interest rates grew from the prior week, the Mortgage Bankers Association said Wednesday. Applications.

The Mortgage Bankers Association (MBA) released its report on mortgage applications Wednesday morning, noting an increase of 13.5%. The unadjusted purchase index rose by 43% for the week and was 11.

Applications to refinance mortgages surged 8 percent last week as rates dropped for the fourth straight week, the Mortgage Bankers Association said Wednesday. The refinancing volume. “Purchase.

Purchase loans spike to level unseen since 2010.. Mortgage app volume increases as refi share slips.. mortgage application volume increased during the week ending Jan. 19, while refinances.

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.

Personal Finance Tips : How to Apply for an FHA Loan Mortgage application volume increased 1.6% on an adjusted basis during. Although lower rates sparked a 3.5 percent increase in refinance applications, purchase activity was up only slightly last.

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