Refinance application share hits eight-year low: MBA

Refinance application share hits eight-year low: MBA

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According to the MBA’s latest Weekly mortgage applications survey, the refinance share of mortgage activity declined to 44% percent of total applications, the lowest that figure has been in more.

Purchase Mortgage Applications Hit 8-Year High.. The Mortgage Bankers Association’s. but the refinance share of overall activity dipped to 49.4 percent from 52.2 percent. It was the first.

Applications for adjustable rate mortgages (arm) fell to 8.1 percent of all applications from 8.2 percent, the lowest share of those applications since the week ended March 3. The average contract.

U.S. mortgage applications fall as refinance hits five-year low: MBA. The refinance share of total mortgage activity slipped to 65 percent from 66 percent the previous week, while adjustable-rate mortgages rose 8.3 percent last week to the biggest share since July 2008. The MBA typically reports its weekly application data on Wednesday,

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Applications to refinance a home mortgage fell 2 percent for the week and were 28 percent lower than the same week one year ago, when interest rates were lower. The refinance share of mortgage.

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According to Freddie Mac, while the drop in mortgage rates hit pause. The share of refinance mortgage activity increased from 49.8% to 50.2%, following an increase from 42.2% to 49.8% in the week.

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Although fixed mortgage rates eased this week, they are expected. The five– year arm hasn't been this high in more than eight years.. “Mortgage rates inched back a little in this week's survey. after hitting a seven-year high last week,”. in home-purchase applications, which are down from a year ago.

The refinance share of total mortgage activity slipped to 65 percent from 66 percent the previous week, while adjustable-rate mortgages rose 8.3 percent last week to the biggest share since July 2008.

The MBA’s seasonally adjusted index of refinancing applications climbed 9.4 percent, while the gauge of loan requests for home purchases was nearly flat, edging up just 0.1 percent. The refinance share of total mortgage activity also increased to 80.5 percent of applications, from 80.0 percent.

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