Mortgage Applications Fall as Home Loan Rates Hit 4-Year High: MBA Wednesday, 14 February 2018 U.S. mortgage application activity fell to its lowest in five years as interest rates on 30-year fixed-rate home loans jumped to their highest in four years, the Mortgage Bankers Association said on Wednesday.The Washington-based industry group’s.
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MBA – Mortgage Bankers Association of America. The Refinance Index covers all mortgage applications to refinance an existing mortgage. It is the best overall gauge of mortgage refinancing activity.
The MBA. remain low by historical standards. Refinancing activity has been hit harder than purchases by the rise in rates, which makes refinancing less lucrative. The gauge of refinancing.
The MBA’s seasonally adjusted index of refinancing applications climbed 9.4 percent, while the gauge of loan requests for home purchases was nearly flat, edging up just 0.1 percent. The refinance share of total mortgage activity also increased to 80.5 percent of applications, from 80.0 percent.
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NEW YORK (Reuters) – Applications for U.S. home loans fell for a third straight week as average mortgage rates hit their highest level this year. said its seasonally adjusted index of mortgage.
Servicer productivity – measured as the average loans serviced divided by the average servicing full-time-equivalent employee (FTE) in a given year – peaked at 1,863 loans in 2007. Once the Great Recession hit, default rates rose and productivity dropped, reaching a study-low of 647 loans serviced per FTE in 2013.
But mortgage rates continue to increase. The Refinance Index dropped 4% from the previous week, the lowest since December 2000. The Purchase Index also decreased, falling 3% from last week, but is still 3% higher from this time last year. The refinance share of mortgage activity decreased from last week’s 35.9% to 35.7% of total applications, still its lowest level since September 2008.
Refinance applications rise as rates fall to a seven-month low Refinance Applications Increase As mortgage rates drop Once Again Last week, ending January 16, mortgage applications increased 14.2% compared to the previous week, with the most significant increase being a 22% rise in refinance applications.
The share of refinancing requests versus total applications shrank to 41.5% from 44.1% the week before. MBA’s seasonally adjusted gauge on overall mortgage application activity decreased 3.5% to.
U.S. mortgage application activity decreased to its lowest in 2-1/2 years last week as loan requests to refinance an existing home fell to their weakest level since December 2000, the Mortgage.
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