New data reveals number of new mortgages higher than previously believed

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October 15, 2014

According to The Wall Street Journal real estate blogger Nick Timiraos, there is a disconnect between the HMDA index of mortgage applications and that of the Mortgage Bankers Association (MBA).
 
The MBA’s weekly survey showed that mortgage applications for home purchases last week were running around 10 percent below last year’s level, and that mortgage applications only went up 5 percent on average in 2013. But the HDMA data, collected over nine months, says that mortgage applications for home purchases rose 13 percent in 2013.
 
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