The Market Composite Index, an overall measure of mortgage applications, rose from 587.8 to 682.9 on a seasonally adjusted basis during the week ended Jan. 14, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey.On an unadjusted basis, applications rose 19.4% on the week but were down 27.4% from the level of a year earlier. The Purchase Index rose from 393.1 to 448.1 on a seasonally adjusted basis, while the Refinance Index climbed from 1720.5 to 2048.6. Refinancings represented 48.9% of total applications, down from 49.0% the previous week, while adjustable-rate mortgages accounted for 32.8%, the MBA said. The average contract interest rate for 30-year fixed-rate mortgages fell from 5.70% to 5.64%, and points (including the origination fee) fell from 1.32 to 1.23 for loans with 80% loan-to-value ratios, the MBA reported. The MBA can be found online at http://www.mortgagebankers.org.
-
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28