Mortgage application volume hits multiyear low

[HarryBosch]

$60K high is a guess on my part. He’s only had his degree maybe 4-5 years. It’s possible, possible that his income is as high as $70K. His income is just a guess on my part – I dont need to know. I only found out about the co-sign through my wife whose sister is my nephew’s mother.

FWIW, I know that my brother-in-law seemed worried – uncharacteristic of him – when we talked about my nephew’s purchase. Of course I didn’t know about the cosign at the time so I just passed it off. Now I understand, looking back on the conversation, about his concern.

I know my nephew and his wife are solid people and my nephew has always been of good character. We shall see what happens. Control what you can and accept what you cant – life has its own twists and turns.

[gdcox]

Request. Please don’t post any data including refinancings. It has no place in this section of the forums. Application for home purchase is the only useful statistic.

[gdcox]

Request. Please don’t post any data including refinancings. It has no place in this section of the forums. Application for home purchase is the only useful statistic.

[gdcox]

Request. Please don’t post any data including refinancings. It has no place in this section of the forums. Application for home purchase is the only useful statistic.

[gdcox]

Request. Please don’t post any data including refinancings. It has no place in this section of the forums. Application for home purchase is the only useful statistic.

[gdcox]

Request. Please don’t post any data including refinancings. It has no place in this section of the forums. Application for home purchase is the only useful statistic.

[HarryBosch]

gdcox, you make a good point.

And since I try to post relevant information I have contacted a Carolyn Kemp ([email protected]) and asked her to see if she can get someone at MBAA (www.mbaa.org) to respond to my request for a breakdown of the total Mortgage Application Volume – how much percent is refi and how much percent is new (or used) finances.

If I get an explanation I will make sure to post since piggington.com seems to be a new hobby of mine 🙂

I did find this information though:

The Conventional Purchase Index decreased 0.7 percent while the Government Purchase Index (largely FHA) increased 0.2 percent (from one week earlier).

The adjustable-rate mortgage (ARM) share of activity increased to 8.0 percent from 7.3 percent of total applications from the previous week.

http://www.mortgagebankers.org/NewsandMedia/PressCenter/64512.htm

Another interesting article on their site was “MBA Study Shows Government-Insured Share of Mortgage Applications for July Tripled in the Past Year” http://www.mortgagebankers.org/NewsandMedia/PressCenter/64461.htm

[HarryBosch]

gdcox, you make a good point.

And since I try to post relevant information I have contacted a Carolyn Kemp ([email protected]) and asked her to see if she can get someone at MBAA (www.mbaa.org) to respond to my request for a breakdown of the total Mortgage Application Volume – how much percent is refi and how much percent is new (or used) finances.

If I get an explanation I will make sure to post since piggington.com seems to be a new hobby of mine 🙂

I did find this information though:

The Conventional Purchase Index decreased 0.7 percent while the Government Purchase Index (largely FHA) increased 0.2 percent (from one week earlier).

The adjustable-rate mortgage (ARM) share of activity increased to 8.0 percent from 7.3 percent of total applications from the previous week.

http://www.mortgagebankers.org/NewsandMedia/PressCenter/64512.htm

Another interesting article on their site was “MBA Study Shows Government-Insured Share of Mortgage Applications for July Tripled in the Past Year” http://www.mortgagebankers.org/NewsandMedia/PressCenter/64461.htm

[HarryBosch]

gdcox, you make a good point.

And since I try to post relevant information I have contacted a Carolyn Kemp ([email protected]) and asked her to see if she can get someone at MBAA (www.mbaa.org) to respond to my request for a breakdown of the total Mortgage Application Volume – how much percent is refi and how much percent is new (or used) finances.

If I get an explanation I will make sure to post since piggington.com seems to be a new hobby of mine 🙂

I did find this information though:

The Conventional Purchase Index decreased 0.7 percent while the Government Purchase Index (largely FHA) increased 0.2 percent (from one week earlier).

The adjustable-rate mortgage (ARM) share of activity increased to 8.0 percent from 7.3 percent of total applications from the previous week.

http://www.mortgagebankers.org/NewsandMedia/PressCenter/64512.htm

Another interesting article on their site was “MBA Study Shows Government-Insured Share of Mortgage Applications for July Tripled in the Past Year” http://www.mortgagebankers.org/NewsandMedia/PressCenter/64461.htm

[HarryBosch]

gdcox, you make a good point.

And since I try to post relevant information I have contacted a Carolyn Kemp ([email protected]) and asked her to see if she can get someone at MBAA (www.mbaa.org) to respond to my request for a breakdown of the total Mortgage Application Volume – how much percent is refi and how much percent is new (or used) finances.

If I get an explanation I will make sure to post since piggington.com seems to be a new hobby of mine 🙂

I did find this information though:

The Conventional Purchase Index decreased 0.7 percent while the Government Purchase Index (largely FHA) increased 0.2 percent (from one week earlier).

The adjustable-rate mortgage (ARM) share of activity increased to 8.0 percent from 7.3 percent of total applications from the previous week.

http://www.mortgagebankers.org/NewsandMedia/PressCenter/64512.htm

Another interesting article on their site was “MBA Study Shows Government-Insured Share of Mortgage Applications for July Tripled in the Past Year” http://www.mortgagebankers.org/NewsandMedia/PressCenter/64461.htm

[HarryBosch]

gdcox, you make a good point.

And since I try to post relevant information I have contacted a Carolyn Kemp ([email protected]) and asked her to see if she can get someone at MBAA (www.mbaa.org) to respond to my request for a breakdown of the total Mortgage Application Volume – how much percent is refi and how much percent is new (or used) finances.

If I get an explanation I will make sure to post since piggington.com seems to be a new hobby of mine 🙂

I did find this information though:

The Conventional Purchase Index decreased 0.7 percent while the Government Purchase Index (largely FHA) increased 0.2 percent (from one week earlier).

The adjustable-rate mortgage (ARM) share of activity increased to 8.0 percent from 7.3 percent of total applications from the previous week.

http://www.mortgagebankers.org/NewsandMedia/PressCenter/64512.htm

Another interesting article on their site was “MBA Study Shows Government-Insured Share of Mortgage Applications for July Tripled in the Past Year” http://www.mortgagebankers.org/NewsandMedia/PressCenter/64461.htm

[gdcox]

Thanks for all that .

From the last link

‘Of all mortgage applications accepted during the month of July 2008, 29.1 percent were for government-insured loans (consisting of mostly FHA loans) compared to 8.4 percent in July 2007. ‘

Since the mortgage app figure includes refis, then the share of gov guarantees in the non-refi apps will be much large. I think I read somewhere that direct and indirect government support for non-refi apps was over 90%.

[gdcox]

Thanks for all that .

From the last link

‘Of all mortgage applications accepted during the month of July 2008, 29.1 percent were for government-insured loans (consisting of mostly FHA loans) compared to 8.4 percent in July 2007. ‘

Since the mortgage app figure includes refis, then the share of gov guarantees in the non-refi apps will be much large. I think I read somewhere that direct and indirect government support for non-refi apps was over 90%.

[gdcox]

Thanks for all that .

From the last link

‘Of all mortgage applications accepted during the month of July 2008, 29.1 percent were for government-insured loans (consisting of mostly FHA loans) compared to 8.4 percent in July 2007. ‘

Since the mortgage app figure includes refis, then the share of gov guarantees in the non-refi apps will be much large. I think I read somewhere that direct and indirect government support for non-refi apps was over 90%.

[gdcox]

Thanks for all that .

From the last link

‘Of all mortgage applications accepted during the month of July 2008, 29.1 percent were for government-insured loans (consisting of mostly FHA loans) compared to 8.4 percent in July 2007. ‘

Since the mortgage app figure includes refis, then the share of gov guarantees in the non-refi apps will be much large. I think I read somewhere that direct and indirect government support for non-refi apps was over 90%.

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