Weekly Mortgage Volumes on the Rise

Click stars to vote (left is low, right is high)

(No Ratings Yet)

 Loading ...

[?]
 Print This

By Amy Hoak, MarketWatch

RISMEDIA, June 14, 2007-(MarketWatch)-Mortgage application volumes rose last week by a seasonally adjusted 6.6% compared with the week before, according to the Mortgage Bankers Association’s weekly survey released Wednesday.

In the face of higher interest rates on fixed-rate mortgages, application volumes were up 16.1% compared with the same week in 2006.

Both refinancings of existing mortgages and mortgages to purchase homes were up during the week ending June 8, with refinance higher by 5.6% from the prior week and purchase volumes rising 7.2%.

The four-week moving average for all mortgages was down 0.3%, according to the survey.

The refinance share of mortgages remained unchanged from the previous week at 38% of all applications. Adjustable-rate mortgages increased to 18.7% of all applications, up from 17.8% the previous week.

Interest rates on fixed-rate loans jumped again last week, the MBA’s data showed.

The average rate on a 30-year fixed-rate mortgage increased to 6.61% from 6.35% the week before. Similarly, the 15-year fixed-rate mortgage averaged a 6.28% interest rate, up from 6.13% the week before.

The rate on one-year ARMs, however, moved in the other direction, averaging 5.48% for the week, down from 5.74%.

The MBA’s survey covers about half of all of all U.S. retail residential mortgage originations.

Amy Hoak is a MarketWatch reporter based in Chicago.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Discussion Forum

Topic	Posts	Last Poster
Real Estate...Breaking marriage (news)	5	ValeriB
Real Estate in India | Plots in Delhi | Real Estate Investment in Delhi	4	realestatewebmaster
Referrals/Leads	1	maes87
NEED AGENTS / & REFERRALS	69	aaronthomas
WANT A GREAT DEAL ON A BANK OWNED PROPERTY? CHECK YOUR EGO AT THE DOOR.	1	pvkathy
PMI	3	JoeCline
"Ethics"	9	JoeCline
Buying and selling "Green Homes"	2	JoeCline
PostcardsPLUS.com Launches Short Sale Postcard Series	2	JoeCline
SOUTH MIAMI- GREAT LOCATION- US1	2	JoeCline

How to Jumpstart Your Success with Multicultural Markets

By the Gonzales Group
RISMEDIA, Oct. 16, 2008-It is critically important to understand the new economic powerbase that is the multicultural consumer. If you have a large Hispanic, Asian, Russian, etc., population in your community, find out if they are Mexican or Cuban, Chinese or Vietnamese, and examine their age segments and median household income to […]