The Market Composite Index, an overall measure of mortgage applications, fell from 569.6 to 548.6 on a seasonally adjusted basis during the week ended April 21, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey.On an unadjusted basis, applications decreased 3.2% on the week and were down 22.4% from the level recorded a year earlier. The Purchase Index fell from 407.4 to 389.4 on a seasonally adjusted basis, while the Refinance Index declined from 1526.1 to 1489.4. Refinancings represented 36.7% of total applications, up from 36.4% the previous week, while adjustable-rate mortgages accounted for 28.2%, the MBA said. The average contract interest rate for 30-year fixed-rate mortgages decreased from 6.56% to 6.53%, and points (including the origination fee) remained at 1.10 for loans with 80% loan-to-value ratios, the association reported. The MBA can be found on the Web at http://www.mortgagebankers.org.
-
The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
11h ago -
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
11h ago -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
May 9 -
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
May 9 -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9 -
The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.
May 9