{"id":752,"date":"2025-01-25T08:17:27","date_gmt":"2025-01-25T08:17:27","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/highest-purchase-applications-in-a-year-technically-yes\/"},"modified":"2025-01-25T08:17:27","modified_gmt":"2025-01-25T08:17:27","slug":"highest-purchase-applications-in-a-year-technically-yes","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/highest-purchase-applications-in-a-year-technically-yes\/","title":{"rendered":"Highest Purchase Applications in a Year? Technically, Yes"},"content":{"rendered":"\n<div>\n<p>The Mortgage Bankers Association&#8217;s (MBA) weekly mortgage application survey showed a modest decrease in refinance applications and an even more modest increase in purchase applications. At these levels of movement, it&#8217;s just as fair to say that applications generally held steady.<\/p>\n<p>That&#8217;s a good thing for purchases considering last week was already at the highest levels in nearly a year, but again, there&#8217;s no real change from the previous week.<\/p>\n<p><\/p>\n<p>The more we zoom out, the more sobering the context becomes. The counterpoint is that this context is also optimistic because short of a major meltdown in the housing\/mortgage market, there&#8217;s really nowhere to go but up.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/a.mortgagenewsdaily.com\/assets\/6793f238291ac48986d93231\/6793f238291ac48986d93231.png\" width=\"525\" height=\"372\" alt=\"\"\/><\/p>\n<p>Refinance demand will always be more closely tied to interest rates.\u00a0 As such, it&#8217;s no surprise to see low levels persist as rates remain elevated compared to the lows seen several months ago. On a positive note, present levels are still about 30% higher than the late 2023 lows.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/a.mortgagenewsdaily.com\/assets\/6793f247291ac48986d93232\/6793f247291ac48986d93232.png\" width=\"525\" height=\"349\" alt=\"\"\/><\/p>\n<p>The big picture view of refi apps reminds us of a different time, when each new long-term low in rates meant that most mortgage holders could benefit from a refi.\u00a0\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/a.mortgagenewsdaily.com\/assets\/6793f253291ac48986d93233\/6793f253291ac48986d93233.png\" width=\"525\" height=\"345\" alt=\"\"\/><\/p>\n<p>Other highlights from this week&#8217;s data:<\/p>\n<ul>&#13;<\/p>\n<li>Refis accounted for 40.4% of the total, down from 42.7 last time<\/li>\n<p>&#13;<\/p>\n<li>Adjustable rate mortgages accounted for 5.5% of the total<\/li>\n<p>&#13;<\/p>\n<li>FHA loan were 16.5% of the total, down from 16.9%<\/li>\n<p>&#13;<\/p>\n<li>VA loans were 14.6% of the total, down from 15.7%<\/li>\n<p>&#13;\n<\/ul>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Mortgage Bankers Association&#8217;s (MBA) weekly mortgage application survey showed a modest decrease in refinance applications and an even more modest increase in purchase applications. At these levels of movement, it&#8217;s just as fair to say that applications generally held steady. That&#8217;s a good thing for purchases considering last week was already at the highest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[209,310,502,503,268],"class_list":["post-752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-applications","tag-highest","tag-purchase","tag-technically","tag-year"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=752"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/753"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}