REOPro - Real Estate Default Professionals

America's Largest Social Network for Default Real Estate Professionals

Mortgage Bankers Association: Mortgage Applications Decrease

Mortgage Bankers Association for the week of 6/23/2010

Market Composite Index: (loan application volume) decreased 5.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6.0 percent compared with the previous week

Refinance Index: decreased 7.3 percent from the previous week and the seasonally adjusted Purchase Index decreased 1.2 percent from one week earlier.
Purchase Index: decreased to 73.8 percent of total applications from 74.8 percent the previous week.

Refinance Share of Mortgage Activity: increased to 74.8 percent of total applications from 72.2 percent the previous week, which is the highest refinance share observed in the survey since the week ending December 18, 2009

Arm Share: decreased to 4.9 percent from 5.2 percent of total applications from the previous week.

MBA outlook: (Excerpted from mbaa.org)

We predict that mortgage originations will fall to $1.4 trillion in 2010 from an estimated $2.1 trillion in 2009. Purchase originations will fall slightly to $725 billion, as home prices continue to fall and the effect from the homebuyer tax credits wane. Refinance originations will fall to $717 billion in 2010 from $1.4 trillion in 2009, but we continue to mark up our refinance origination forecast given the sharp drop in mortgage rates

Related Articles
Politics of Housing
How to Punch up Your New Rental Listings:What Renters Look For
Repairs Maintenance and Habitability

Views: 5

Comment

You need to be a member of REOPro - Real Estate Default Professionals to add comments!

Join REOPro - Real Estate Default Professionals

© 2019   Created by Jesus (Jesse) Gonzalez.   Powered by

Badges  |  Report an Issue  |  Terms of Service