The lowest interest rates in months couldn’t bring an influx of borrowers to the table in the run-up to Labor Day, as application volume declined for the third straight week, the Mortgage Bankers Association said. The MBA’s Market Composite Index, a measure of weekly application volume based on a survey of association members, dropped a […]
Mortgage application activity decreases despite lower rates Read More »
Mortgage applications decreased 1.4% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Aug. 15. Without taking seasonal adjustments into account, the index decreased 2% compared with the previous week. The refinance index decreased 3% from the previous week but was 23% higher
Mortgage applications shrink as VA loan demand declines Read More »
Independent mortgage banks (IMBs) delivered a pretax net production profit of $950 per loan in the second quarter of 2025, rebounding from a $28 loss in the prior quarter. The improvement was fueled by seasonality, cost reductions and higher average loan balances. The data, released on Tuesday, comes from the Mortgage Bankers Association report covering
IMBs swing back to profitability in Q2 with $950 per-loan gain Read More »
Increasing loan balances, reduced head count and higher seasonal volume led nonbanks to report the highest loan production profits in years last quarter, according to the Mortgage Bankers Association. The pre-tax net production profit of $950 per originated reversed a two-quarter slide into the red, with improvement surging from a loss of $28 per transaction
Cost cutting helps drive IMBs to best numbers since 2021 Read More »
The Mortgage Bankers Association (MBA)’s Builder Application Survey data for July 2025, released on Monday, shows that mortgage applications for new-home purchases increased 6.8% compared from a year ago. Compared to June 2025, applications increased by 7%. This change does not include any adjustment for typical seasonal patterns. “Purchase activity for new homes strengthened in
New-home purchase mortgage demand kept growing in July Read More »
Mortgage applications for new-home purchases accelerated in July, as borrowers took advantage of homebuilder concessions and a drop in interest rates, according to new industry data. New single-family residential mortgage applications rose 6.8% year over year last month, according to the Mortgage Bankers Association. The increase coincided with greater overall mortgage activity in the back
New-home loan applications surge to three-month high Read More »
In the debate over whether Fannie Mae and Freddie Mac should merge, the Mortgage Bankers Association (MBA) has remained consistent: “We don’t think that would be a good idea,” chief economist Mike Fratantoni said. The trade group supports a stock offering that preserves stability in the secondary mortgage market while advocating for privatization with an
MBA opposes GSE merger, supports explicit government guarantee Read More »
New mortgage delinquencies showed overall improvement in loan performance, but in what could be a more concerning trend, later-stage distress and foreclosures trended upward in the second quarter. The overall delinquency rate decreased to a seasonally adjusted 3.93% during the quarter, reflecting pullbacks from both three months and one year earlier from 4.04% and 3.97%,
Late-stage delinquencies, foreclosures see noticeable spike Read More »
Home lending credit reversed course following a one-month dip, with availability returning to the upside even as conforming product offerings declined in July, according to the Mortgage Bankers Association. The MBA’s credit availability index edged up 0.2% month over month to a reading of 103.9. The score rose from 103.7 in June, which was the
Jumbos, ARMs drive uptick in credit availability Read More »
Homebuyer affordability improved in June, as evidenced by the national median payment for purchase mortgage applicants decreasing to $2,172 — down from $2,211 in May. That’s according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time relative to income, using data from MBA’s
Mortgage application payments decline in June Read More »