Mortgage Application Volume Cools After Surge
After previously doubling week-to-week, mortgage application volume cooled slightly, the MBA said today.
Home loan apps dipped 7.1 percent on a seasonally adjusted basis for the week ending December 5, but still increased 32.7 percent on an unadjusted basis compared to the holiday-shortened Thanksgiving week.
Compared to the same period last year, volume was up 2.2 percent.
The slowdown was Read more
Mortgage Fraud Up Despite Flagging Application Volume
Mortgage fraud increased 45 percent from a year ago despite a big drop in loan application volume, the Mortgage Asset Research Institute reported today.
Once again, Florida led the nation in mortgage fraud during the second quarter, followed by California and Illinois.
Fraud was most rampant in the metropolitan areas of Miami and Tampa, Los Angeles and San Francisco, and Chicago and Rockford.
Mortgage Application Volume Rises 12 Percent
Home loan application volume increased 11.9 percent on a seasonally adjusted basis for the week ending November 7, according to the MBA.
On an unadjusted basis, the index was up 10.5 percent compared to one week earlier, but still off 40.0 percent compared to the same period a year ago.
The increased in application volume was led by a 16.1 percent jump in refinance activity and a 15.3 percent rise in FHA Read more