Mortgage applications jump 21.7% on refinancing activity

The refinance share of mortgage activity increased to 57.7 percent of total applications from 55.3 percent the previous week. The adjustable-rate mortgage (arm) share of activity increased to 5.7.

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Mortgage rates dropped again for most loan types, which led to an increase in refinance activity, partly driven by a 9% jump in VA applications,” said Joel Kan, MBA’s associate vice president of.

Applications for home mortgages saw their biggest jump in three months last week, fueled by demand for refinancing as interest rates continued to fall, an industry group said on Wednesday.

MBA said applications rose 21.7% in the week ended Aug. 5.. The refinance share of mortgage activity increased to 75.6% of total applications from 70.1% the previous week.

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U.S. mortgage applications jumped to their highest level in more than 2-1/2 years last week, led by a surge in refinancing activity, as some home borrowing costs tumbled to their cheapest level since September 2017, the Mortgage Bankers Association said on Wednesday.

Mortgage Applications Jump in MBA Weekly Survey .. The refinance share of mortgage activity increased to 49.8 percent of total applications from 42.2 percent the previous week. The seasonally adjusted Purchase Index increased by 10 percent from one week earlier. The unadjusted Purchase Index.

Mortgage Applications Rise as loan rates fall; The Washington-based group’s seasonally adjusted index on mortgage activity increased 1.3% to 518.7 in the week ended June 21, propelled by a 3.2% rise in refinancing activity.

Mortgage loan applications were down 10 percent in just one week, the MBA said. And refinance activity was down 12 percent in one. loans even if they owe more than the home is worth. The jump in.

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when applications fell 3.5 percent, according to the Mortgage Bankers Association. The drop in interest rates for the second week in a row also spurred a 10 percent increase in mortgage refinance.

– Mortgage Applications Increase in Latest MBA Weekly Survey . May 20, 2019 – Prepared Remarks of MBA President and CEO Bob Broeksmit, CMB, at the 2019 MBA National Secondary Market Conference & Expo . May 16, 2019 – April New Home Purchase Mortgage Applications Increased 15.6 Percent

U.S. mortgage applications to refinance a home increased to their highest level in 11 weeks as home borrowing costs declined to their lowest levels since November, the Mortgage Bankers Association.