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Mortgage Applications Fall as Interest Rates Remain Unchanged
Mortgage Applications Fall as Interest Rates Remain Unchanged
Mortgage Applications Fall as Interest Rates Remain Unchanged
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November 29, 2012 (Chris Moore)

Applications for home mortgages fell for the sixth time in the last seven weeks as an increase in applications for home purchases was offset by a decline in applications for refinances according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 23, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, fell a seasonally adjusted 0.9 percent from the previous week and follows a 2.2 percent decline the week before.

On an unadjusted basis, the Index declined by 24 percent from the previous week on account of the Thanksgiving Holiday and follows a 13 percent decline from the week before.

Purchase Applications:

The seasonally adjusted Purchase Index climbed three percent from the previous week after climbing by a similar amount the week before, while the unadjusted Purchase Index declined by 24 percent over the previous week, also due to the Thanksgiving holiday. The unadjusted Purchase Index was eight percent higher than at the same time a year ago.

Refinance Applications:

The Refinance Index declined two percent from the previous week after posting a decline of three percent the week before. The refinance share of mortgage activity remained unchanged at 81 percent of total applications.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

3.53

3.54

0.40

0.40

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

3.75

3.76

0.31

0.40

Decreased
15-Year FRM

2.89

2.89

0.35

0.25

Increased
FHA 30-Year

3.36

3.36

0.65

0.63

Increased
5/1 ARM

2.60

2.62

0.37

0.37

Decreased

The adjustable-rate mortgage (ARM) share of activity remained at about four percent of total applications.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Source:
Mortgage Bankers Association

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
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LOAN CENTER WORKS
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FAST & EASY. DATA ENCRYPTED
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NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

November 29, 2012 (Chris Moore)

Applications for home mortgages fell for the sixth time in the last seven weeks as an increase in applications for home purchases was offset by a decline in applications for refinances according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 23, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, fell a seasonally adjusted 0.9 percent from the previous week and follows a 2.2 percent decline the week before.

On an unadjusted basis, the Index declined by 24 percent from the previous week on account of the Thanksgiving Holiday and follows a 13 percent decline from the week before.

Purchase Applications:

The seasonally adjusted Purchase Index climbed three percent from the previous week after climbing by a similar amount the week before, while the unadjusted Purchase Index declined by 24 percent over the previous week, also due to the Thanksgiving holiday. The unadjusted Purchase Index was eight percent higher than at the same time a year ago.

Refinance Applications:

The Refinance Index declined two percent from the previous week after posting a decline of three percent the week before. The refinance share of mortgage activity remained unchanged at 81 percent of total applications.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

3.53

3.54

0.40

0.40

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

3.75

3.76

0.31

0.40

Decreased
15-Year FRM

2.89

2.89

0.35

0.25

Increased
FHA 30-Year

3.36

3.36

0.65

0.63

Increased
5/1 ARM

2.60

2.62

0.37

0.37

Decreased

The adjustable-rate mortgage (ARM) share of activity remained at about four percent of total applications.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Source:
Mortgage Bankers Association

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

November 29, 2012 (Chris Moore)

Applications for home mortgages fell for the sixth time in the last seven weeks as an increase in applications for home purchases was offset by a decline in applications for refinances according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 23, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, fell a seasonally adjusted 0.9 percent from the previous week and follows a 2.2 percent decline the week before.

On an unadjusted basis, the Index declined by 24 percent from the previous week on account of the Thanksgiving Holiday and follows a 13 percent decline from the week before.

Purchase Applications:

The seasonally adjusted Purchase Index climbed three percent from the previous week after climbing by a similar amount the week before, while the unadjusted Purchase Index declined by 24 percent over the previous week, also due to the Thanksgiving holiday. The unadjusted Purchase Index was eight percent higher than at the same time a year ago.

Refinance Applications:

The Refinance Index declined two percent from the previous week after posting a decline of three percent the week before. The refinance share of mortgage activity remained unchanged at 81 percent of total applications.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

3.53

3.54

0.40

0.40

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

3.75

3.76

0.31

0.40

Decreased
15-Year FRM

2.89

2.89

0.35

0.25

Increased
FHA 30-Year

3.36

3.36

0.65

0.63

Increased
5/1 ARM

2.60

2.62

0.37

0.37

Decreased

The adjustable-rate mortgage (ARM) share of activity remained at about four percent of total applications.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Source:
Mortgage Bankers Association

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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