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Mortgage Applications Decline in Latest Study

Mortgage and Lending with Gateway Funding

Mortgage Applications Decline in Latest Study
Posted: Jun 3, 2008

The Mortgage Bankers Association announced this morning that applications for mortgage loans decreased 15.3% last week when compared to the week prior.

The report showed the Purchase Index decreased 5.4% and the Refinance Index decreased 25.7% from the previous week.

Quicken Loans Chief Economist Bob Walters says many consumers are having a hard time qualifying due to credit tightening and tougher lending standards.

"Conditions in the housing market remain far from stable and tight credit continues to prevent many folks from qualifying for a home loan," Walters said. "The FHA loan program is helping more people qualify but, with tougher lending standards in place, many other folks are having difficulty qualifying for financing, which adds up to continuing challenges in the housing industry."


Tony Donato
1st Metropolitan Mortgage - Manasquan, NJ

There was a nice increse in FHA applications last week, no doubt because of the case number deadline for risk based MI coverage...

Jul 14, 2008 05:49 AM
John A

I heard you like to close your deals with sex.  I am not sure if this statement is true or not but is worth investigating. 

Mar 03, 2009 05:49 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

We invite you back to ActiveRain in 2017.

  Much has changed since your last blog post.

  Best to you!

Jun 18, 2017 06:52 PM