Application volume is flat as refinance activity slows

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Mortgage application activity slows Significantly Jun 28 2017, 7:30AM Applications for mortgages plunged during the week ended June 23, even as interest rates remained relatively stable.

The refinance share of mortgage activity decreased to 47.8 percent of total applications, its lowest level since August 2017, from 49.4 percent the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (3,100 or less) increased to its highest level since March 2017, 4.41 percent.

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With refinance activity rising to its highest level in three years, mortgage application volume increased 26.8% from one week earlier, according to the Mortgage Bankers Association.

The 15-year fixed-rate average was also flat. of total loan application volume – decreased 0.5 percent. The refinance index fell 4 percent, while the purchase index increased 3 percent. The.

Application Activity Flat; Purchase Apps Maintain Big Annual Edge Jul 3 2019, 5:49AM Mortgage application activity during the week ended June 28 was largely unchanged from the week that preceded it.

But volume was 15 percent lower than a year ago, when interest rates were more than 80 basis points lower. Applications to refinance a home loan. not pose too much of a headwind to home purchase.

Total mortgage application volume was essentially flat last week, up just 0.3% on a seasonally adjusted. But without a major move in rates, applications to refinance a home loan, which are most.

Refinance activity was 49.4 percent of total mortgage applications for the week ending Jan. 20, according to MBA, down from 50.0 percent the previous week. The percentage that week was the lowest since July 2015. MBA’s survey for this data covers more than 75 percent of all U.S. retail residential mortgage applications.

 · Mortgage applications fall 2% as buyers are slow to start spring shopping season. Seasonally adjusted mortgage application volume fell 2 percent for the week ending Feb. 17, compared to the previous week. Total volume is now down almost 21 percent compared to a year ago, according to the Mortgage Bankers Association.

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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.