Economic uncertainty dragging down mortgage application volume: MBA

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The Mortgage Bankers Association (MBA) added a little more evidence to the pile indicating a rather rapid slow-down in the housing market. MBA’s Builder Application Survey (BAS) data for November.

Mortgage applications declined 2.4% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 5, 2018.

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Mortgage application volume fell 3.3% on an adjusted basis during the week ended May 24, as the average rate for a 30-year fixed rate mortgage remained flat at 4.33%, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances fell 6% while applications for purchases fell 1%, according to the report.

Refinance volume turned back to bleeding, down 2 percent. lingering uncertainty over a potential trade war, investors moved away from Treasurys, pushing yields up for the week," said Joel Kan, an.

Economic uncertainty dragging down mortgage application volume MBA Consumer worries over the direction of the U.S. economy affected mortgage application activity this past week even as interest rates remained flat or declined, according to the Mortgage Bankers Association.

On an unadjusted basis, the Market Composite Index, a measure of mortgage loan application volume, rose by 38% over the previous week. The Refinance Index rose by 47% over this period.

That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have.

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U.S. Mortgage Delinquencies Rose in First Quarter from 18-year low at Year-end -MBA; The delinquency rate for mortgages on one-to-four-unit homes rose to 4.42% in the first three months of 2019, up from 4.06% at the end of the fourth quarter which was the lowest level since the first quarter of 2000, MBA said.

The Dow (^DJI) edged down. drag on GDP growth in fourth quarter,” Andrew Hunter, senior economist for Capital Economics, wrote in a note Wednesday. “We expect that drag to intensify in the first.

The MBA mortgage application survey is based on a weekly poll of the 3,000. than 75 percent of all retail and consumer-direct channel application volume.. Because of volatility of data, financial markets are only somewhat sensitive to. It is not uncommon for each index to jump up or down 10%, or more, each week.