FHA mortgage demand rises as borrowers face affordability challenges

FHA mortgage demand rises as borrowers face affordability challenges

Total mortgage demand was flat last week, but FHA demand rose, as that product offers bigger savings.

MBA: Affordability Challenges Driving Rise in Government-Backed Loan Activity

Applications for home loans remained essentially flat this week, declining slightly along with the refinance share of total mortgage activity, while experts note an uptick in government-backed loan applications is an indicator of ongoing affordability challenges. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of mortgage loan activity volume… The post MBA: Affordability Challenges Drivin…

Mortgage applications dip 0.3% as FHA and ARM shares rise

Mortgage applications decreased 0.3% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Feb. 6. On an unadjusted basis, the index increased 2% compared with the previous week. The seasonally adjusted purchase index decreased 2% from one week earlier. The unadjusted purchase index increased 4% compared with the previous week and was 4% higher than the same…

Mortgage Application Activity Remains Flat as Credit Availability Increases

The FHA share of total applications increased to 18.4% from 17.8% the week prior. Continue Reading Mortgage Application Activity Remains Flat as Credit Availability Increases The post Mortgage Application Activity Remains Flat as Credit Availability Increases appeared first on Weekly Real Estate News.