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News & Press: Industry News

Weekly Mortgage Applications Mixed

Tuesday, July 17, 2018  
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Mortgage applications increased 2.5 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 6, 2018. This week's results included an adjustment for the Fourth of July holiday. However, the refinance share of mortgage activity decreased to its lowest level since August 2008. In addition, the adjustable-rate mortgage (ARM) share of activity decreased to 6.3 percent of total applications as consumers continue to be wary of ARMs.

The Market Composite Index, a measure of mortgage loan application volume, increased 2.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 18 percent compared with the previous week. The Refinance Index decreased 4 percent from the previous week to its lowest level since December 2000.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851