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· Ending the year on a high note, mortgage rates dropped last week, making it as good a time as any to lock your interest rate if you’re in the market to purchase or refinance. The average rate for a 30-year fixed mortgage with 0.5 points paid in fees was down to 4.55%. This is up from 3.99% at the same time a year ago.
MBA Purchase Index: The Mortgage Bankers Association’s weekly measurement of nationwide home loan applications based on a sample of about 75% of U.S. mortgage.
Mortgage application volume decreased for fourth consecutive week, falling 4.3% despite a drop in the average rate for a 30-year fixed rate mortgage to 4.42% from 4.46%, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey.
Hensarling: “We are headed for a debt crisis” Jeb Hensarling, the winner of the trophy for most payday loan donations, also happens to be Chairman of the House Committee on Financial services. mike crapo, who received $5,000 in campaign donations from the payday loan industry, is the Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs.
· From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 3.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 9, 2018.
Headline measures the change in number of applications for mortgages backed by the MBA during the week. mortgage activity declines again on the week and this reflects the softness in the housing.
· MBA’s seasonally adjusted gauge on refinancing fell 6.5 % to 1,779.7. The refinance share of mortgage activity fell to 48.7% of total applications from 51.0% the previous week. The group’s barometer on loan applications for home purchases, which is seen as a proxy on future housing activity, increased 2.3% to 275.6.
Overall volume for mortgage applications fell 1.4% last week from the previous. inadequate supply levels continue to hold.
Composite Index: +5.5% vs. -0.1% (W/W). Purchase Index: +9.0% vs. +3.0%. refinance index: +1.0% vs. -4.3%. 30 year mortgage rate at 5.12% vs. 5.16%.
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity improved slightly on the week after encountering a bit of a drag over the past.
· U.S. mortgage applications decreased last week as most home borrowing costs were unchanged to slightly higher, the Mortgage Bankers Association said on Wednesday. The Washington-based group’s.
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.