Refinance application share hits eight-year low: MBA

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Turnover of existing homes fell to an 11-month low in July, while sales of new homes hit a seven-month low. Last week, the average interest rate on conforming 30-year fixed-rate mortgages dipped to 4.11 percent, a fresh nine-month low, from 4.12 percent the prior week, the MBA said.

Servicer productivity – measured as the average loans serviced divided by the average servicing full-time-equivalent employee (FTE) in a given year – peaked at 1,863 loans in 2007. Once the Great Recession hit, default rates rose and productivity dropped, reaching a study-low of 647 loans serviced per FTE in 2013.

Lender with ties to Warren Buffett backs a loan for manufactured homes Buffett touted the 3 percent default rate to shareholders in order to rebut claims of predatory lending in a recent investigation by The Seattle Times and The Center for Public Integrity into Berkshire’s mobile-home subsidiary, Clayton Homes. But Buffett’s number only counted loans that defaulted in a one-year period.

Refinance Application Share Hits Nine-Year Low. Wednesday, May 17, 2017. The mortgage bankers association (mba) said today that mortgage applications were down across the board during the week ended May 12, with refinancing taking the biggest hit. MBA’s Market Composite Index, a measure of loan application volume, fell 4.1 percent on a.

Mortgage lenders check your credit score to gauge how good you’ll be at paying them back, too, and a low credit. of 2014. refinance originations dropped 20%, or more if you watch the MBA app.

The number of refinance applications dropped 4.3 percent and reached its lowest level in almost 18 years on a seasonally unadjusted basis. Mortgage rates have been steadily increasing with the rate on the 30-year fixed loan – the favorite among homebuyers – hitting an eight-year high of 5.17 percent last week from 5.15, according to the MBA.

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The refinance share of total mortgage activity slipped to 65 percent from 66 percent the previous week, while adjustable-rate mortgages rose 8.3 percent last week to the biggest share since July 2008.

U.S. mortgage applications fall as refinance hits five-year low: MBA. The refinance share of total mortgage activity slipped to 65 percent from 66 percent the previous week, while adjustable-rate mortgages rose 8.3 percent last week to the biggest share since July 2008. The MBA typically reports its weekly application data on Wednesday,

U.S. mortgages in foreclosure hit decade-low in first quarter – MBA. U.S. mortgages in foreclosure hit decade-low in first quarter – MBA. Storage Program;. The share of home loans in foreclosure was 1.39 percent in the first three months of 2017, down 14 basis points from the fourth.