Weekly Mortgage Applications Survey

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Weekly Mortgage Applications Survey

What Is the Weekly Mortgage Applications Survey?

The Mortgage Bankers Association (MBA) conducts the Weekly Mortgage Applications Survey each week to compile and evaluate mortgage application activity in the United States.

Key Takeaways

  • The Mortgage Bankers Association (MBA) conducts the Weekly Mortgage Applications Survey each week to compile and evaluate mortgage application activity in the United States.
  • The MBA publishes reports and analysis on the condition of real estate finance, including new house purchases, refinancing, and mortgages, every week based on the results of the Weekly Mortgage Applications Survey.
  • Since the Weekly Applications Survey’s inception in 1990, its indexes have served as leading indicators for the housing and mortgage finance sectors.

Understanding the Weekly Mortgage Applications Survey

The MBA publishes reports and analysis on the condition of real estate finance, including new house purchases, refinancing, and mortgages, every week based on data from the Weekly Mortgage Applications Survey. Indicators monitoring changes in fixed-rate, adjustable-rate, conventional, and governmental loans and refinances are included in the reports each week.

It is important to highlight that, as opposed to mortgage loan applications that close, the Weekly Mortgage Survey mainly maintains data on mortgage applications that are filed each week.

The Weekly Mortgage Applications Survey was established in 1990, and since since, its indices have been used as leading indicators in the housing and mortgage finance sectors. The supplied data also give historical insights on macro-trends in various sectors, even if the majority of the stakeholders with an interest in the patterns mapped by the Weekly Application Survey may be focused on current trends and near-term projections.

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The Mortgage Bankers Association has been around since 1914, although the Weekly Applications Survey has only been in use since 1990. The group, formerly known as the Farm Mortgage Bankers Association of America, was founded to provide loans for agricultural land. The group became the Mortgage Bankers Association of America in 1926.

Although anybody working in the real estate finance sector is allowed to join, independent mortgage banks make up the majority of the MBA membership. Commercial and community banks, credit unions, mortgage servicers, insurance and title firms, and others make up the remaining membership. For its weekly reporting, the Weekly Applications Survey compiles member-reported data.

Weekly Mortgage Applications Survey and Indices

The MBA releases its survey findings each Wednesday along with comparative data analysis to show market trends. Two of these indexes, the MBA Refinance Index and the MBA Purchase Index, are of particular interest to those involved in the real estate sector.

The MBA Refinance Index keeps track of how many refinance applications are received, providing the total for the week as well as the percentage change from the week before and the index’s four-week moving average.

This instrument may be helpful in predicting the mortgage market. Mortgage investors watch this index for changes that could affect them, particularly because a wave of refinancing might reduce payments to mortgage investors over time. Some analysts use refinancing data to forecast other types of consumer spending.

The MBA Purchase Index tracks the number of fresh house loan applications received each week in a similar manner. Builders and developers may predict new dwelling building using these numbers. This index may be used by mortgage investors to spot market trend indications like mortgage prepayments.

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