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Application volume is flat as refinance activity slows

Mortgage Application Activity and Rates Nearly Flat in Latest MBA Weekly Survey Jul 25, 2018. CONTACT:. a measure of mortgage loan application volume, decreased 0.2 percent on a seasonally adjusted basis from one week earlier.. The refinance index increased 1 percent from the previous week.

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“Mortgage rates were flat. loan application volume – decreased 2.7 percent from a week earlier. The refinance index fell 5 percent from the previous week, while the purchase index slipped 2 percent.

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.

Mortgage Volume Slows as Applications Decline. The average contracted rate on a fixed 30-year mortgage rose to 4.8% for the week from 4.77% the previous week on an 80% loan-to-value mortgage. Interest rates on an average 15-year fixed rate loan declined to 4.12% from 4.16% the prior week. Rates are expected to remain low through.

The latest data is showing that the average rate for a 30 year fixed rate mortgage increased a whopping 27 basis points since the last week to 5.31% while the purchase application volume increased 0.6.

A year later, $1.7 trillion in origination volume is expected, with refis flat from a year earlier and purchases rising again to $1.3 trillion. By 2020, the refi share will have dropped to just 23% of total applications, down from around 50% in 2016 and 36% this year.

Mortgage rate jump didn't slow applications to purchase or. – What’s more surprising, perhaps, is that more Americans are also trying to refinance. Refi application activity over the past four weeks was about 5% higher than in the same period last year.

Mortgage app volume grows along with refi activity share.. application activity in a week that also saw an increase in application volume, according to the weekly mortgage applications survey.

Among the federal programs, the FHA share of total applications decreased to 10.1 percent from 10.3 percent the week prior and the VA share of total applications decreased to 9.9 percent from 10.7 percent, while the USDA share of total applications increased to 0.9 percent from 0.8 percent.

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The market composite index – a measure of total loan application volume – increased 2.9 percent from a week earlier. The refinance. growth slows and comes more in line with the pace of wage growth,

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