Applications for refinancings were up last week but purchase applications were down, with homeowners looking to refinance generating nearly three out of four loan requests, the Mortgage Bankers Association said.

Applications for refinance loans were up 4.5 percent for the week ending May 15, the MBA said in releasing the results of its Weekly Mortgage Applications Survey. Applications for purchase loans were down 4.4 percent from the previous week. All in all, mortgage loan applications were up 2.3 percent from the week before, the MBA said.

Looking back a year, applications for purchase loans last week were down 28 percent, while applications for refinancings were up 117 percent.

Applications for refinancings made up 73.6 percent of total applications last week, up from 71.9 percent the previous week and 48.2 percent a year ago. Requests for adjustable-rate mortgage (ARM) loans made up 2.4 percent of applications, up from 2.3 percent the previous week but down from 10 percent a year ago.


What’s your opinion? Leave your comments below or send a letter to the editor.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription