S&P 500
7,481.40
-0.13%
Dow Jones
52,913.00
+1.06%
Nasdaq 100
29,338.00
-1.77%
Russell 2000
2,993.21
-0.66%
FTSE 100
10,689.80
+1.92%
Nikkei 225
68,287.30
-1.93%

Housing

Mortgage Demand Tanks

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
The Mortgage Bankers Association released its Weekly Mortgage Applications Survey for the week ending September 10, 2010.  The Market Composite Index, a measure of mortgage loan application volume, decreased 8.9% on a seasonally adjusted basis from one week earlier.  This week’s results include an adjustment to account for the Labor Day holiday. On an unadjusted basis, the Index decreased 27.4% compared with the previous week.

The Refinance Index decreased 10.8% from the previous week. The seasonally adjusted Purchase Index decreased 0.4% from one week earlier. The unadjusted Purchase Index decreased 21.9% compared with the previous week and was 39.7% lower than the same week one year ago, the MBA said.

Contact [email protected] for any questions or corrections.

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

You'll Spend Way Less in Retirement Than You Think | Bill Perkins Says the Data Is 'Overwhelming'
Omor Ibne Ehsan |

You'll Spend Way Less in Retirement Than You Think | Bill Perkins Says the Data Is 'Overwhelming'
He Inherited $250,000 in His Wife's Roth, and Then Taxes Wiped Out Part of It
David Beren |

He Inherited $250,000 in His Wife's Roth, and Then Taxes Wiped Out Part of It

Continue Reading

Paul Ausick |

Mortgage Loan Rates Dip, Boosting Applications

ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting an increase of 1.3% in…

Paul Ausick |

Mortgage Loan Rates Continue Downward Trend

ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning. It noted an increase of 1.4%…

Trey Thoelcke |

Post-Holiday Bump in Mortgage Applications as Rates Drop

ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting a increase of 11.9% in…

Paul Ausick |

Mortgage Loan Rates and Applications Lower

ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications this morning, noting a drop of 4.7% in…

Paul Ausick |

Loan Applications Drop with Mortgage Rates

ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting a decrease of 0.4% in…

Paul Ausick |

Mortgage Loan Rates at Four-Month Lows

The Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting a decrease of 0.6% in…

Paul Ausick |

Mortgage Loan Rates Tick Higher

ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting a decrease of 7% in…

Paul Ausick |

Mortgage Loan Rates Rise Slightly, Home Purchases Fall to 1995 Level

ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting a decrease of 8.5% in…

Paul Ausick |

Mortgage Loan Rates Climb Higher

The MBA weekly report on mortgage applications noted a decrease in the group's seasonally adjusted composite index for the week…

Top Gaining Stocks

Genuine Parts
GPC • Vol: 5,050,746
Moderna
MRNA • Vol: 12,155,667
Vertex Pharmaceuticals
VRTX • Vol: 1,285,190
Equifax
EFX • Vol: 2,187,705
S&P Global
SPGI • Vol: 3,303,164

Top Losing Stocks

Teradyne
TER • Vol: 4,505,757
KLA
KLAC • Vol: 19,556,139
Corning
GLW • Vol: 20,023,335
Lam Research
LRCX • Vol: 14,814,784
Seagate Technology
STX • Vol: 5,713,886