Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Mortgage Applications Dropped 13.5% Last Week
WASHINGTON (9/12/13)--U.S. mortgage applications for the week ending Sept. 6 decreased 13.5% from the previous week, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The week's results included an adjustment for the Labor Day holiday.  
 
The Market Composite Index, a measure of mortgage loan application volume, dropped 13.5% on a seasonally adjusted basis. On an unadjusted basis, the Index fell 23%. The Refinance Index declined 20%. It fell 71% from its recent peak the week of May 3, and is at the lowest level since June 2009.
 
The seasonally adjusted Purchase Index declined 3% from one week earlier. The unadjusted index decreased 14%, compared with the previous week, and was 7% higher than the same week one year ago.
 
The refinance share of mortgage activity dropped to 57% of total applications from 61% the previous week and is at its lowest level since April 2010.
 
The adjustable-rate mortgage share of activity was unchanged at 7% of total applications. The Home Affordable Refinance Program share of refinance applications was unchanged from the prior week at 38%.
RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
10 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
11 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
13 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
13 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
16 hours ago