What Is the Weekly Mortgage Applications ♐Survey?

The Weekly Mortgage Applications Survey is conducted each week by the Mortgage Bankers Association (MBA) to aggregate and analyze U.S. 澳洲幸运5官方开奖结果体彩网:mortgage application activity. The survey shows whether new mortgage applications increased or decreased across 15 segments of the primary residential housing sector. According to the MBA, the survey covers 75% of mortgage applications for the residential housing market in the U.S.

The Weekly Mortgage Applications Survey is used as a metric for the demand for new 澳洲幸运5官方开奖结果体彩网:mortgage loans and 澳洲幸运5官方开奖结果体彩网:refinancing, which can indicate a strong or weak economy, a change in mortgage interest rates, and future activity from 澳洲幸运5官方开奖结果体彩网:homebuilders.

Understanding the Weekly Mortgage Applicat⛄ions Survey

Each week, the MBA draws on the Weekly Mortgage Applications Survey to publish reports and commentary on the state of real estate financing, including new home purchases, 澳洲幸运5官方开奖结果体彩网:refinancing, and mortgages. Each week’s reports include indices tracking changes in fi🐬xed-rate, adjustable, conventional, and governmental loans and refinances.

It is important to note that the Weekly Mortgage Survey primarily tracks data on the mortgage applications submitted each week, as opposed to mortgage loan applications that close.

Since the launch of the Weekly Mortgage Applications Survey in 1990, its indices have served as 澳洲幸运5官方开奖结果体彩网:leading indicators in the housing and mortgage finance industries. While most of the stakeholders with an interest in the trends charted by the Weekly Application Survey may be focused on recent trends and near-term forecasting, the available data also provide historical perspectives on macro-trends in these industries.

MBA History

While the Weekly Applications Survey has only been in operation since 1990, the Mortgage Bankers Association has existed since 1914. Initially known as the Farm Mortgage Bankers Association of America, the organization convened to provide loans for farmland. In 1926, the organization changed its name to Mortgage Bankers Association of America.

MBA Membership

While anyone working in the real estate finance industry is eligible to join, MBA membership is largely composed of independent mortgage banks. The remainder of the membership comprises commercial and community 澳洲幸运5官方开奖结果体彩网:banks, credit unions, 澳洲幸运5官方开奖结果体彩网:mortgage servicers, insurance and title companies. The Weekly Applications Survey aggregates member-reported data for its weekไly reports.

Weekly Mortgage Applications Survey and Indices

Each Wednesday, the MBA publishes the results of the previous week’s survey with comparative data analysis to chart market trends. Real estate market stakeholders pay particular attention to two of these indices: the MBA Refinance Index and the MBA Purchase Index.

MBA Refinance Index

The 澳洲幸运5官方开奖结果体彩网:MBA Refinance Index tracks the number of refinance applications submitted, repor🐟ting the week’s total alongside the percentage change from the prior week and the four-week mov🎶ing average of the index.

This tool can be useful in forecasting 澳洲幸运5官方开奖结果体彩网:mortgage activity. Some analysts look to 澳洲幸运5官方开奖结果体彩网:refinancing data to predict other forms of 澳洲幸运5官方开奖结果体彩网:consumer spending, while 澳洲幸运5官方开奖结果体彩网:mortgage investors look to this index fo🤪r trends that will impact them, especially as a wave of refinancing can decrease payments over time.

MBA Purchase Index

Similarly, the 澳洲幸运5官方开奖结果体彩网:MBA Purchase Index counts the number of new home loan applications submitted each week. These figures are useful for builders and developers when forecasting new housing construction. 澳洲幸运5官方开奖结果体彩网:Mortgage investors can also look to t𝄹his inde🃏x for market trend indicators, such as mortgage prepayment.

Exam꧟ple of the Weekly Mortgage Application Survey

According to the MBA Weekly Application Survey for the week ending September 13, 2024, mortgage loan applications increased by more than 14% from one week earlier, while the refinance index increased 24% from the previous week and was 1🌟27% higher than 💙the same period one year earlier. 

The report highlights the expectations that the Fed would cut interest rates later in the month, pushing down 澳洲幸运5官方开奖结果体彩网:mortgage rates and ending the central bank's rate hike cycle since 2022. The Fed did, in fact, cut rates during its policy meeting on September 18, 2024. The increase in mortgage applications and refinancing activity shows the importance of the Federal Reserve's monetary policy on the U.S. housing sector.

The Bottom Line

The Weekly Mortgage Applications Survey by the 澳洲幸运5官方开奖结果体彩网:Mortgage Bankers Association (MBA) provides a pulse of the U.S. 澳洲幸运5官方开奖结果体彩网:mortgage activity. The survey gathers data reflecting new mortgage applications and refinancing activity across 15 segments of the primary residential housing sector. The survey comprises 75% of 澳洲幸运5官方开奖结果体彩网:mortgage applications for the U.S. residential housing market.