Mortgage Application Volume Spikes Before TRID Implementation

According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, mortgage application activity spiked just before the implementation of the TILA-RESPA Integrated Disclosure rule on October 3rd. The MBA’s survey results for the week ending October 2nd showed a 25% increase in mortgage application activity compared to the week before. Lynn Fisher, MBA’s Vice President of Research and Economics, stated, “The number of applications for purchase and refinance mortgages soared last week due both to renewed rate volatility and as many applications were filed prior to the TILA-RESPA regulatory change. The average loan size of applications in the weekly survey increased by 6.9 percent, driven by a 12.1 percent increase in the average size of refinances.”

Indeed, the MBA’s Purchase and Refinance Indexes reflected sizable increases compared to the previous week. On a seasonally adjusted basis, the Purchase Index climbed by 27%. Not only was the refinance share 57.4% of total mortgage applications, the Refinance Index jumped by 24% over the prior week. To read the full press release, visit

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