Mortgage Applications Lose Momentum
Mortgage Applications Lose Momentum
Mortgage Applications Lose Momentum
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July 27, 2011 (Chris Moore)

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending July 22, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.0 percent as both purchase applications and refinance applications lost momentum from the previous week.

On an unadjusted basis, the Index decreased 4.9 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 0.3 percent.

Purchase Applications:

The seasonally adjusted Purchase Index decreased 3.8 percent from one week earlier. The four week moving average is down 0.5 percent for the seasonally adjusted Purchase Index.

The unadjusted Purchase Index decreased 3.4 percent compared with the previous week, and is 2.2 percent higher than the same week one year ago.

Refinance Activity:

The Refinance Index decreased 5.5 percent from the previous week. The four week moving average is down 0.3 percent.

The refinance share of mortgage activity decreased to 69.6 percent of total applications from 70.1 percent last week.

Mortgage Interest Rates:

The average contract interest rate for 30-year fixed rate mortgages increased to 4.57 percent from 4.54 percent last week, with points increasing to 1.14 from 0.98 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed rate mortgages increased to 3.67 percent from 3.66 percent last week, with points increasing to 1.08 from 0.97 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

ARMs:

The adjustable-rate mortgage (ARM) share of activity increased to 6.1 percent from 5.8 percent the previous week.

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

Sources:
MBA

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Mortgage
Calculator

Estimate your monthly mortgage payment
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Calculator

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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
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July 27, 2011 (Chris Moore)

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending July 22, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.0 percent as both purchase applications and refinance applications lost momentum from the previous week.

On an unadjusted basis, the Index decreased 4.9 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 0.3 percent.

Purchase Applications:

The seasonally adjusted Purchase Index decreased 3.8 percent from one week earlier. The four week moving average is down 0.5 percent for the seasonally adjusted Purchase Index.

The unadjusted Purchase Index decreased 3.4 percent compared with the previous week, and is 2.2 percent higher than the same week one year ago.

Refinance Activity:

The Refinance Index decreased 5.5 percent from the previous week. The four week moving average is down 0.3 percent.

The refinance share of mortgage activity decreased to 69.6 percent of total applications from 70.1 percent last week.

Mortgage Interest Rates:

The average contract interest rate for 30-year fixed rate mortgages increased to 4.57 percent from 4.54 percent last week, with points increasing to 1.14 from 0.98 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed rate mortgages increased to 3.67 percent from 3.66 percent last week, with points increasing to 1.08 from 0.97 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

ARMs:

The adjustable-rate mortgage (ARM) share of activity increased to 6.1 percent from 5.8 percent the previous week.

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

Sources:
MBA

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.
Helpful Tools

July 27, 2011 (Chris Moore)

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending July 22, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.0 percent as both purchase applications and refinance applications lost momentum from the previous week.

On an unadjusted basis, the Index decreased 4.9 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 0.3 percent.

Purchase Applications:

The seasonally adjusted Purchase Index decreased 3.8 percent from one week earlier. The four week moving average is down 0.5 percent for the seasonally adjusted Purchase Index.

The unadjusted Purchase Index decreased 3.4 percent compared with the previous week, and is 2.2 percent higher than the same week one year ago.

Refinance Activity:

The Refinance Index decreased 5.5 percent from the previous week. The four week moving average is down 0.3 percent.

The refinance share of mortgage activity decreased to 69.6 percent of total applications from 70.1 percent last week.

Mortgage Interest Rates:

The average contract interest rate for 30-year fixed rate mortgages increased to 4.57 percent from 4.54 percent last week, with points increasing to 1.14 from 0.98 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed rate mortgages increased to 3.67 percent from 3.66 percent last week, with points increasing to 1.08 from 0.97 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

ARMs:

The adjustable-rate mortgage (ARM) share of activity increased to 6.1 percent from 5.8 percent the previous week.

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

Sources:
MBA

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.