WASHINGTON, D.C. (July 1, 2009) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 26, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 444.8, a decrease of 18.9 percent on a seasonally adjusted basis from 548.2 one week earlier. On an unadjusted basis, the Index decreased 18.5 percent compared with the previous week and decreased 7.4 percent compared with the same week one year earlier.
The Refinance Index decreased 30.0 percent to 1482.2 from 2116.3 the previous week and the seasonally adjusted Purchase Index decreased 4.5 percent to 267.7 from 280.3 one week earlier. The Refinance Index is at its lowest level since November 2008.
The four week moving average for the seasonally adjusted Market Index is down 9.2 percent. The four week moving average is unchanged for the seasonally adjusted Purchase Index, while this average is down 15.2 percent for the Refinance Index.
The refinance share of mortgage activity decreased to 46.4 percent of total applications from 54.0 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 4.3 percent from 4.1 percent of total applications from the previous week.
The average contract interest rate for 30-year fixed-rate mortgages decreased to 5.34 percent from 5.44 percent, with points increasing to 1.12 from 0.99 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.
The average contract interest rate for 15-year fixed-rate mortgages decreased to 4.81 percent from 4.93 percent, with points increasing to 1.04 from 0.92 (including the origination fee) for 80 percent LTV loans.
The average contract interest rate for one-year ARMs decreased to 6.52 percent from 6.54 percent, with points increasing to 0.13 from 0.11 (including the origination fee) for 80 percent LTV loans.
The survey covers over 50 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.
* Personal CREDIT ANALYSIS. What I do is review the credit reports you send me. I then report to you in writing on the strengths and weakness of each account currently open and for each closed account that is up to 3 years old. I then give my own personal evaluation score to you in writing on each open and closed accounts as a whole. You then can use this information to discuss your credit with each vendor listed on your credit report. Also you can discuss your credit to the credit company reporting on your credit. Hopefully this will give you the power to discuss your credit as a informed and intelligent consumer. I can also review your Business credit. I charge $39 dollars to review your personal credit report you provide to me. I then report back to you in writing what is in your credit report. For a business credit report review, I charge a starting fee of $75 dollars for two hours. You can send your credit report to me, James Liceaga at 257 N. Grant St., Westmont Illinois 60559 with your check written to me, James Liceaga. My Phone number is (312) 218 - 6650. I understand these are trying times for alot of folks. Maybe by having your credit reviewed by me, you can tackle, discuss your credit situation with the companies that report your credit intelligently. It can take between 1 week to 2 weeks to get your credit review back to you, so please be somewhat patient. In the mean time, Good Luck, stay Focused and Healthy. James Liceaga 312-218-6650
"y yes you can" copyright 1991 - 2018 by yyesyoucan publishing company