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Mortgage Applications Post an Increase as Rates Continue to Fall
Mortgage Applications Post an Increase as Rates Continue to Fall
Mortgage Applications Post an Increase as Rates Continue to Fall
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December 13, 2012 (Chris Moore)

Mortgage applications increased for the second consecutive week as three out of the five mortgage rate categories fell to record lows according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 6th, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, increased a seasonally adjusted 6.2 percent from the previous week and follows a 4.5 percent increase the week before.

On an unadjusted basis, the Index increased by six percent from the previous week and follows a 36 percent increase from the week before due to the effects of the Thanksgiving holiday the previous week.

Purchase Applications:

The seasonally adjusted Purchase Index climbed one percent from the previous week after climbing by 0.1 percent the week before, while the unadjusted Purchase Index increased by four percent over the previous week. The unadjusted Purchase Index was nine percent higher than at the same time a year ago.

Refinance Applications:

The Refinance Index increased eight percent from the previous week after posting an increase of six percent the week before. The refinance share of mortgage activity moved up to 84 percent of total applications from 83 percent the week before.

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)

3.47*

3.52

0.36

0.41

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

3.77

3.79

0.35

0.32

Decreased
15-Year FRM

2.85*

2.86

0.26

0.27

Decreased
FHA 30-Year

3.32*

3.34

0.51

0.62

Decreased
5/1 ARM

2.63

2.62

0.34

0.40

Decreased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity remained around three 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
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
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.

December 13, 2012 (Chris Moore)

Mortgage applications increased for the second consecutive week as three out of the five mortgage rate categories fell to record lows according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 6th, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, increased a seasonally adjusted 6.2 percent from the previous week and follows a 4.5 percent increase the week before.

On an unadjusted basis, the Index increased by six percent from the previous week and follows a 36 percent increase from the week before due to the effects of the Thanksgiving holiday the previous week.

Purchase Applications:

The seasonally adjusted Purchase Index climbed one percent from the previous week after climbing by 0.1 percent the week before, while the unadjusted Purchase Index increased by four percent over the previous week. The unadjusted Purchase Index was nine percent higher than at the same time a year ago.

Refinance Applications:

The Refinance Index increased eight percent from the previous week after posting an increase of six percent the week before. The refinance share of mortgage activity moved up to 84 percent of total applications from 83 percent the week before.

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)

3.47*

3.52

0.36

0.41

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

3.77

3.79

0.35

0.32

Decreased
15-Year FRM

2.85*

2.86

0.26

0.27

Decreased
FHA 30-Year

3.32*

3.34

0.51

0.62

Decreased
5/1 ARM

2.63

2.62

0.34

0.40

Decreased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity remained around three 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

December 13, 2012 (Chris Moore)

Mortgage applications increased for the second consecutive week as three out of the five mortgage rate categories fell to record lows according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 6th, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, increased a seasonally adjusted 6.2 percent from the previous week and follows a 4.5 percent increase the week before.

On an unadjusted basis, the Index increased by six percent from the previous week and follows a 36 percent increase from the week before due to the effects of the Thanksgiving holiday the previous week.

Purchase Applications:

The seasonally adjusted Purchase Index climbed one percent from the previous week after climbing by 0.1 percent the week before, while the unadjusted Purchase Index increased by four percent over the previous week. The unadjusted Purchase Index was nine percent higher than at the same time a year ago.

Refinance Applications:

The Refinance Index increased eight percent from the previous week after posting an increase of six percent the week before. The refinance share of mortgage activity moved up to 84 percent of total applications from 83 percent the week before.

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)

3.47*

3.52

0.36

0.41

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

3.77

3.79

0.35

0.32

Decreased
15-Year FRM

2.85*

2.86

0.26

0.27

Decreased
FHA 30-Year

3.32*

3.34

0.51

0.62

Decreased
5/1 ARM

2.63

2.62

0.34

0.40

Decreased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity remained around three 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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