Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Mortgage Applications Drop 2.5% In Latest Report
WASHINGTON (8/29/13)--U.S. mortgage applications decreased 2.5% for the week ending Aug. 23 from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey.

The Market Composite Index, a measure of mortgage loan application volume, declined 2.5% on a seasonally adjusted basis. Unadjusted, the index dropped 3%.

The Refinance Index fell 5%, said MBA. The Refinance Index has fallen 64.2% from its recent peak the week of May 3.

The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index rose 0.3% and was 6% higher than the same week one year ago.

The refinance share of mortgage activity decreased to 60% of total applications from 61% the previous week, which is the lowest share observed since April 2011. The adjustable-rate mortgage share of activity increased to 7% of total applications. The Home Affordable Refinance Program share of refinance applications rose to 35% from 34% the previous week.

To read the MBA survey, use the link.
RSS print
News Now LiveWire
University, college #creditunions add fin ed to higher ed. See #NewsNow http://t.co/NsyshwHPhg
1 hours ago
Are you going to be naughty or nice to your budget with holiday spending? http://t.co/FcN2YPxCIU
1 hours ago
Did U miss the July @TheNCUA open meeting? Now a video recording is available on the agency’s website. Go here: http://t.co/cxGs2bkdKt
2 hours ago
What about creating the Central Bank of #Bitcoin? via @ColoradoBizMag http://t.co/jNOGCxjEEt
2 hours ago
Mo. #creditunion house hosts summer caucus for state Dems #CUHouse @MCUA_news http://t.co/AoKth9ULDs
3 hours ago