Refinance application share hits eight-year low: MBA

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In a week that saw mortgage interest rates hit. application volume, dropped 1.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index fell 2% compared with the.

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Refinance Application Share Hits Nine-Year Low. Wednesday, May 17, 2017. The Mortgage Bankers Association (MBA) said today that mortgage applications were down across the board during the week ended May 12, with refinancing taking the biggest hit. mba’s Market Composite Index, a measure of loan application volume, fell 4.1 percent on a.

U.S. mortgage application activity decreased to its lowest in 2-1/2 years last week as loan requests to refinance an existing home fell to their weakest level since December 2000, the Mortgage.

Applications for adjustable rate mortgages (ARM) fell to 8.1 percent of all applications from 8.2 percent, the lowest share of those applications since the week ended march 3. The average contract.

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NEW YORK (Reuters) – Applications for U.S. home mortgages fell for a second week and hit a 13-year low as mortgage. increasing and refinance application volume falling to its lowest level since.

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The refinancing share of total applications last week grew to 46.8 percent, the largest since January 2018, from 45.8 percent the previous week. The average mortgage size for refinancing applications reached 3,100, the highest since the MBA began tracking its weekly survey in 1990.

MBA – Mortgage Bankers Association of America. The Refinance Index covers all mortgage applications to refinance an existing mortgage. It is the best overall gauge of mortgage refinancing activity.

Applications for U.S. home mortgages fell for a second week and hit a 13-year low. application volume dropped again last week, with rates increasing and refinance application volume falling to its.

Turnover of existing homes fell to an 11-month low in July, while sales of new homes hit a seven-month low. Last week, the average interest rate on conforming 30-year fixed-rate mortgages dipped to 4.11 percent, a fresh nine-month low, from 4.12 percent the prior week, the MBA said.

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According to the MBA’s latest weekly mortgage applications survey, the refinance share of mortgage activity declined to 44% percent of total applications, the lowest that figure has been in more.