Thursday, June 18, 2009

Mortgage Refinance and Loan Market Deteriorates

Are higher interesting rates effecting refinancing? Is the Housing Market picking up?

  • The Refinance Index dropped 23.3 percent to 1998.1 from 2605.7.
  • The four week moving average for the seasonally adjusted Refinance Index is down 19.6 percent.
  • The refinance share of mortgage activity decreased to 54.1 percent of total applications from 59.4 percent the previous week.
Mortgage Loans
  • The Market Composite Index, a measure of mortgage loan application volume, was 514.4, a decrease of 15.8 percent on a seasonally adjusted basis from 611.0 one week earlier.
  • The four week moving average for the seasonally adjusted Market Index is down 13.5 percent. The Purchase Index decreased 3.5 percent to 261.2 from 270.7 one week earlier.
***Mortgage Bankers Association (MBA)Weekly Mortgage Applications Survey for the week ending June 12, 2009.
Subscribe to EF Hutton via Email

Kindle: Amazon's 6" Wireless Reading Device

1 comment:

  1. If a good real estate agent can help grease the wheels and get your offer in front of a lender, you can get an answer more quickly, and potentially close more deals.