The Mortgage Bankers Association Builder Applications Survey data for February show mortgage applications for new home purchases increased 9.2 percent from a year ago, but fell by 9 percent from January, unadjusted for typical seasonal patterns.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 6 basis points to 5.14% of servicers’ portfolio volume as of March 7 from 5.20% the prior week. MBA estimates 2.6 million homeowners are in forbearance plans.
The Mortgage Bankers Association said it is concerned over new limits on loan deliveries for second homes and investor properties by Fannie Mae and Freddie Mac.
Sen. Pat Toomey, R-Pa., ranking member of the Senate Banking Committee, yesterday released a set of guiding principles for housing finance reform, a move welcomed by the Mortgage Bankers Association.
This week’s MBA Chart of the Week captures the share of mortgage applications to purchase or refinance a second home or investment property.