Strong Growth in Mortgage Application Volume Following Memorial Day Holiday

Strong Growth in Mortgage Application Volume Following Memorial Day Holiday
Press Release by MBA | June 11, 2014

MBA-LogoWASHINGTON, D.C. (June 11, 2014) — Mortgage applications increased 10.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 6, 2014. The previous week’s results included an adjustment for the Memorial Day holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 10.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 22 percent compared with the previous week. The Refinance Index increased 11 percent from the previous week. The seasonally adjusted Purchase Index increased 9 percent from one week earlier. The unadjusted Purchase Index increased 19 percent compared with the previous week and was 13 percent lower than the same week one year ago.

The refinance share of mortgage activity increased to 54 percent of total applications from 53 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 8 percent of total applications.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.34 percent from 4.26 percent, with points increasing to 0.16 from 0.13 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 4.27 percent from 4.22 percent, with points increasing to 0.12 from 0.11 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.06 percent from 3.99 percent, with points increasing to -0.03 from -0.46 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.43 percent from 3.39 percent, with points increasing to 0.22 from 0.07 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs increased to 3.18 percent from 3.11 percent, with points increasing to 0.35 from 0.05 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

### The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mba.org. ###

Source: Mortgage Bankers Association, MBA, Weekly Mortgage Application Survey 061114

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate|marketing
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Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage Applications Decrease in Latest MBA Weekly Survey
Article by MBA | June 4, 2014

MBA-LogoWASHINGTON, D.C. (June 4, 2014) — Mortgage applications decreased 3.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 30, 2014. This week’s results include an adjustment for the Memorial Day holiday.

The Market Composite Index, a measure of mortgage loan application volume, decreased 3.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 14 percent compared with the previous week. The Refinance Index decreased 3 percent from the previous week. The seasonally adjusted Purchase Index decreased 4 percent from one week earlier. The unadjusted Purchase Index decreased 15 percent compared with the previous week and was 17 percent lower than the same week one year ago.

The refinance share of mortgage activity increased to 53 percent of total applications from 52 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 8 percent of total applications.

Interest rates for most products fell to their lowest levels in close to a year.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to 4.26 percent from 4.31 percent, with points decreasing to 0.13 from 0.15 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to 4.22 percent from 4.23 percent, with points decreasing to 0.11 from 0.16 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.99 percent from 4.04 percent, with points decreasing to -0.46 from -0.45 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.39 percent from 3.42 percent, with points increasing to 0.07 from 0.06 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs decreased to 3.11 percent from 3.13 percent, with points decreasing to 0.05 from 0.19 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

### The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mba.org. ###

Source: MBA Weekly Mortgage Application Survey, 060414

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate|marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
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Purchase Applications Increase in Latest MBA Weekly Survey

Purchase Applications Increase in Latest MBA Weekly Survey
Press Release by MBA; Weekly Application Survey; March 26, 2014

WASHINGTON, D.C. (March 26, 2014) — Mortgage applications decreased 3.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 21, 2014. This week’s results are compared to a revised level from last week. The seasonally adjusted market index, initially reported as a decline of 1.2 percent, was revised to an increase of 0.2 percent.

The Market Composite Index, a measure of mortgage loan application volume, decreased 3.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3 percent compared with the previous week. The Refinance Index decreased 8 percent from the previous week, including an 8.1 percent decline in conventional refinance applications and a 5.8 percent decline in government refinance applications; the government refinance index dropped to the lowest level since July 2011. In contrast, the seasonally adjusted Purchase Index increased 3 percent from one week earlier, driven mainly by a 4.0 percent increase in conventional purchase applications. Government purchase applications were essentially flat from the week before. The unadjusted Purchase Index increased 3 percent compared with the previous week and was 17 percent lower than the same week one year ago.

The refinance share of mortgage activity decreased to 54 percent of total applications, the lowest level since April 2010, from 57 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 8 percent of total applications.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.56 percent, the highest level since January 2014, from 4.50 percent, with points increasing to 0.29 from 0.26 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 4.45 percent from 4.39 percent, with points increasing to 0.27 from 0.19 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.16 percent from 4.13 percent, with points increasing to 0.23 from 0.18 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.62 percent, the highest level since January 2014, from 3.52 percent, with points decreasing to 0.24 from 0.25 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs increased to 3.22 percent, the highest level since January 2014, from 3.09 percent, with points decreasing to 0.32 from 0.38 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

***The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.***

***The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mba.org.***

Source: MBA Weekly Application Survey (032614) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville and Brentwood, Tennessee

10220_1158837183099_6930637_nKENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
a proud member of Pilkerton Realtors

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Fixed Mortgage Rates Move Down a Tad

Fixed Mortgage Rates Move Down a Tad
Article by Freddie Mac; Weekly Primary Mortgage Market Survey; 032014

MCLEAN, VA–(Marketwired – Mar 20, 2014) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving down slightly after last week’s uptick, and remaining within range of average fixed rates for the first quarter of 2014.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.32 percent with an average 0.6 point for the week ending March 20, 2014, down from last week when it averaged 4.37 percent. A year ago at this time, the 30-year FRM averaged 3.54 percent.
  • 15-year FRM this week averaged 3.32 percent with an average 0.6 point, down from last week when it averaged 3.38 percent. A year ago at this time, the 15-year FRM averaged 2.72 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.02 percent this week with an average 0.4 point, down from last week when it averaged 3.09 percent. A year ago, the 5-year ARM average
  • 1-year Treasury-indexed ARM averaged 2.49 percent this week with an average 0.4 point, up from last week when it averaged 2.48 percent. At this time last year, the 1-year ARM averaged 2.63 percent.
  • d 2.61 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates eased this week as housing starts [PDF] declined 0.2 percent in February to a seasonally adjusted annual rate of 907,000, below consensus forecast. The rate on the 10-year treasury note rose following the Fed’s announcement Wednesday afternoon and, if this holds, interest rates may begin to trend higher going into next week.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. For more information please visit http://www.FreddieMac.com and Twitter: @FreddieMac.

Source: Freddie Mac Weekly Primary Mortgage Market Survey 032014 | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

10220_1158837183099_6930637_nKENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
a proud member of Pilkerton Realtors

(615) 512-9836 cellular | (615) 371-2474 office
kb@bargers-solutions.com email | www.bargers-solutions.com web
kennethbargers.com blog | www.pilkertonrealtors.com web

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Mortgage Rates Hold Mostly Flat for the Week

Mortgage Rates Hold Mostly Flat for the Week
Daily Real Estate News | Friday, January 10, 2014

Mortgage rates were little changed this week, with the 30-year fixed-rate mortgage averaging 4.51 percent, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 9:

  • 30-year fixed-rate mortgages averaged 4.51 percent, with an average 0.7 point, dropping from last week’s 4.53 percent average. Last year at this time, 30-year rates averaged 3.40 percent.
  • 15-year fixed-rate mortgages averaged 3.56 percent, with an average 0.6 point, rising slightly from last week’s 3.55 percent average. A year ago, 15-year rates averaged 2.66 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.15 percent, with an average 0.4 point, rising from last week’s 3.05 percent average. Last year, 5-year ARMs averaged 2.67 percent.
  • 1-year ARMs averaged 2.56 percent, with an average 0.5 point, holding the same average as last week. A year ago, 1-year ARMs averaged 2.60 percent.

Source: Freddie Mac; Daily Real Estate News (011014) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

Mortgage Rates Edge Higher Entering 2014

Mortgage Rates Edge Higher Entering 2014
Article by Daily Real Estate News; January 03, 2014

Fixed mortgage rates continued an upward climb this week, with the 30-year fixed-rate mortgage starting the year more than a full percentage point higher than last year at this time, Freddie Mac reports in its weekly mortgage survey.

“Mortgage rates edged up to begin the year on signs of a stronger economic recovery,” says Frank Nothaft, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages for mortgage rates for the week ending Jan. 2:

  • 30-year fixed-rate mortgages: averaged 4.53 percent, with an average 0.8 point, up from last week’s 4.48 percent average. Last year at this time, 30-year rates averaged 3.34 percent.
  • 15-year fixed-rate mortgages: averaged 3.55 percent, with an average 0.7 point, rising from last week’s 3.52 percent average. A year ago, 15-year rates averaged 2.64 percent.
  • 5-year hybrid adjustable rate mortgages: averaged 3.05 percent, with an average 0.4 point, rising from last week’s 3 percent average. Last year at this time, 5-year ARMs averaged 2.71 percent.
  • 1-year ARMs: averaged 2.56 percent, with an average 0.5 point, holding the same average as last week. A year ago, 1-year ARMs averaged 2.57 percent.

Source: Freddie Mac; Daily Real Estate News (010314) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

Mortgage Rates Fall to Four-Month Lows

Mortgage Rates Fall to Four-Month Lows
Article by Daily Real Estate News; October 25, 2013

Fixed mortgage rates dropped to their lowest levels since this summer, giving a lift this week to the housing recovery.

“Mortgage rates slid this week as the partial government shutdown led to market speculation that the Federal Reserve will not alter its bond purchases this year,” says Frank Nothaft, Freddie Mac’s chief economist.

Mortgage rates have been dropping since September when the Federal Reserve decided to delay tapering its $85-billion per month bond purchasing program, which has been keeping rates low.

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 24:

  • 30-year fixed-rate mortgages: averaged 4.13 percent, with an average 0.8 point, dropping from last week’s 4.28 percent average. That’s the lowest average for the 30-year fixed-rate mortgage since June 20. Last year at this time, 30-year rates averaged 3.41 percent.
  • 15-year fixed-rate mortgages: averaged 3.24 percent, with an average 0.6 point, falling from last week’s 3.33 percent average. Last year at this time, 15-year rates averaged 2.72 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3 percent, with an average 0.4 point, falling from last week’s 3.07 percent average. A year ago, 5-year ARMs averaged 2.75 percent.
  • 1-year ARMs: averaged 2.60 percent, with an average 0.5 point, dropping from last week’s 2.63 percent average. A year ago, 1-year ARMs averaged 2.59 percent.

Source: REALTOR(R) Magazine Daily News; Daily Real Estate News 102513 | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee