MBA: Refinance once again drives mortgage applications

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"The average loan size increased once again to new highs for both purchase and refinance loans, as borrowers with – or seeking – larger loans tend to be more reactive to the drop in rates." The refinance share of mortgage activity increased to 40.4% of total applications, up from 39.2% the previous week.

 · MBA: Lower rates push refinance applications higher. mortgage applications are up from one week earlier, thanks to lower rates that may be encouraging borrowers to refinance. That’s according to the latest weekly mortgage applications survey from the Mortgage Bankers Association (MBA), which compiled data for the week ending March 15, 2019.

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From the MBA: Mortgage Applications Increase in Latest mba weekly survey mortgage applications increased 1.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15, 2019.. The Refinance Index increased 4 percent from the previous week.

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The refinance index increased 8 percent to its highest level in over a month, and once again there was an increase in average refinance loan sizes, as borrowers with larger balances responded accordingly to lower rates," said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting.

Refinancing activity has also fallen to its lowest level in over four years. The MBA seasonally adjusted index of mortgage application activity (which includes both purchases and refinances) fell 13.5 percent last week, the worst performance for the index since 2008. As a result, many banks are cutting their mortgage divisions and closing units.

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Volume was 36% higher compared than a year earlier, thanks to stronger refinance. MBA economist. Mortgage applications to.

The most recent data shows that mortgage applications are once again on the downslide, with another 3.7% drop in volume reported as of February 15 th. The most recent figures were rises of 5.8% in.

[Shopping around for a mortgage can save you thousands of dollars] After plateauing the past couple months, mortgage rates are once again. MBA president David H. Stevens said. “In contrast,

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Mortgage applications rose. level in over a month, and once again there was an increase in average refinance loan sizes, as borrowers with larger balances responded accordingly to lower rates,”.

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