Weekly Mortgage Volumes on the Rise

Click stars to vote (left is low, right is high)

(No Ratings Yet)

 Loading ...

[?]
 Print This

By Amy Hoak, MarketWatch

RISMEDIA, June 14, 2007-(MarketWatch)-Mortgage application volumes rose last week by a seasonally adjusted 6.6% compared with the week before, according to the Mortgage Bankers Association’s weekly survey released Wednesday.

In the face of higher interest rates on fixed-rate mortgages, application volumes were up 16.1% compared with the same week in 2006.

Both refinancings of existing mortgages and mortgages to purchase homes were up during the week ending June 8, with refinance higher by 5.6% from the prior week and purchase volumes rising 7.2%.

The four-week moving average for all mortgages was down 0.3%, according to the survey.

The refinance share of mortgages remained unchanged from the previous week at 38% of all applications. Adjustable-rate mortgages increased to 18.7% of all applications, up from 17.8% the previous week.

Interest rates on fixed-rate loans jumped again last week, the MBA’s data showed.

The average rate on a 30-year fixed-rate mortgage increased to 6.61% from 6.35% the week before. Similarly, the 15-year fixed-rate mortgage averaged a 6.28% interest rate, up from 6.13% the week before.

The rate on one-year ARMs, however, moved in the other direction, averaging 5.48% for the week, down from 5.74%.

The MBA’s survey covers about half of all of all U.S. retail residential mortgage originations.

Amy Hoak is a MarketWatch reporter based in Chicago.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Discussion Forum

Topic	Posts	Last Poster
Effective, Fast and FREE Ways to Sell Homes on the Internet!	1	RealEstateMarketingNerdscom
Seller switched appliances	5	soldbychris
"I'm not going to give my house away."	15	Racheli
#1 Thing you MUST know about your website to make $$$$ online	1	RealEstateMarketingNerdscom
My Space Page?	6	RealEstateMarketingNerdscom
Why is acknowledging a recession a good thing???	3	ruthrbn
Role of realtor in real estate business	1	RomiSam11
A Listing and $2.00 will get you on the subway!	3	JoeCline
Online bidding for all Realtors	2	JoeCline
Yeah Right ,You Can Always Refinance	2	JoeCline

The Philosophy Embedded Within

Commentary by Scott Einbinder
RISMEDIA, May 19, 2008-Having read the 2008 Power Broker Report, I’d like to thank RISMedia for putting together such an informative document. Like all good resources, there are things to learn and apply from what we have read. Within the pages of this report rests a very important characteristic of our industry. […]