RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
RISMedia
No Result
View All Result

Mortgage Applications Up in November, With Refis Making Up More Than Half of the Share

Home Agents
By RISMedia Staff
November 26, 2021
Reading Time: 2 mins read
Mortgage Applications Up in November, With Refis Making Up More Than Half of the Share

Mortgage applications increased 1.8% for the week ending Nov. 19, 2021, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.

The refinance share of mortgage activity increased to 63.1% of total applications from 62.9% the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 3.4% of total applications.

The FHA share of total applications decreased to 8.6% from 8.9% the week prior. The VA share of total applications decreased to 10.3% from 10.8% the previous week. The USDA share of total applications decreased to 0.4% from 0.5% the previous week.

Key findings:

  • Market Composite Index increased 1.8% on a seasonally adjusted basis from the previous week
  • Unadjusted, the index increased 0.1% compared with the previous week
  • Refinance Index increased 0.4%from the previous week—34% lower YoY
  • Seasonally adjusted Purchase Index increased 5% from the previous week
  • Unadjusted Purchase Index decreased 0.4% from the previous week

The takeaway:

“The financial markets continue to discern the Federal Reserve’s policy path in the coming months in light of the current high growth, high inflation environment. Despite a fair amount of rate volatility last week, mortgage rates were higher, with the 30-year fixed rate increasing 4 basis points to 3.24%,” said Joel Kan, MBA’s associate vice president of Economic and Industry Forecasting, in a statement. “Despite the increase in rates, refinance applications rose slightly, driven by a 2% gain in conventional refinances. Borrowers continue to lock in mortgages in anticipation of higher rates in the future. Refinance applications were still more than 30% below a year ago, when the 30-year fixed rate was 32 basis points lower.”

Added Kan, “Purchase activity increased for the third straight week, as housing demand remains robust, even as the housing market approaches the typically slower holiday season. Both conventional and government loan applications increased, and the average loan size for a purchase loan was at $407,200, continuing its ongoing 2021 run of being mostly above $400,000.”

Tags: FinancingIndustry NewsLendingMBAMortgage ApplicationsMortgage Bankers AssociationReal Estatereal estate news
ShareTweetShare

RISMedia Staff

Related Posts

How to Handle Tech Overload and Choose What Will Work for Your Agents
Agents

How to Handle Tech Overload and Choose What Will Work for Your Agents

August 13, 2022
Would Student Loan Forgiveness Impact the Housing Market?
Agents

Would Student Loan Forgiveness Impact the Housing Market?

August 12, 2022
The Mortgage Mix: Big Lenders Buckling and a Market Hitting Milestones
Agents

The Mortgage Mix: Big Lenders Buckling and a Market Hitting Milestones

August 12, 2022
Opportunity Zones Keep Pace with Nationwide Home-Price Growth in Second Quarter
Agents

Opportunity Zones Keep Pace with Nationwide Home-Price Growth in Second Quarter

August 12, 2022
Pros and Cons of an Adjustable-Rate Mortgage
Agents

Pros and Cons of an Adjustable-Rate Mortgage

August 13, 2022
Headliners Week of 8/7 – 8/13
Headliners

Headliners Week of 8/7 – 8/13

August 12, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

There’s Gold in Them There Leads. HomeKeepr Can Help.

Does your brokerage have leads no one is working? Let’s put those leads to work! Our Moover Intelligence feature identifies... Learn more.

Business Tip of the Day provided by
REGISTER NOW

Recent Posts

  • How to Handle Tech Overload and Choose What Will Work for Your Agents
  • Would Student Loan Forgiveness Impact the Housing Market?
  • The Mortgage Mix: Big Lenders Buckling and a Market Hitting Milestones

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X