The Market Composite Index, an overall measure of mortgage applications, rose from 797.8 to 837.1 on a seasonally adjusted basis during the week ended Feb. 13, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey.On an unadjusted basis, applications rose 7.0% on the week, but were down 22.3% from the level of a year earlier. The Purchase Index climbed from 402.2 to 413.9 on a seasonally adjusted basis, while the Refinance Index rose from 3099.1 to 3298.3. Refinancings represented 56.6% of total applications, down slightly from 56.9% the previous week, while adjustable-rate mortgages accounted for 27.1%. The average contract interest rate for 30-year fixed-rate mortgages fell from 5.60% to 5.46%, and points (including the origination fee) were unchanged at 1.40 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.
10h ago -
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.
11h ago -
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.
11h ago -
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