A slight increase last week caused total mortgage application volume to fall 2.3 percent, according to the Mortgage Bankers Association’s seasonally adjusted report. Applications to refinance led the.
Total mortgage application volume decreased 3.5% last week from the previous week. We’re seeing the new increase in residential monitors around very quick and most of the customers this was – they.
Mortgage applications increased slightly, rising 0.3% from last week, according to data from the Mortgage Bankers Association. But the increase was caused by a push in refinance applications.
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With refinance activity rising to its highest level in three years, mortgage application volume increased 26.8% from one week earlier, according to the Mortgage Bankers Association.
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Mortgage Applications Decrease Over Two Week Period in Latest MBA Survey Jan 3, 2018. CONTACT:. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.8 percent on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased.
Purchase share grows, closing times shrink ahead of spring market Closing rates for refinance loans increased to 70.8% from 65% year-over-year, while closing rates for purchase loans rose to 78.2% from 75.7% over that same period. Original Source Share this:
Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $484,350 loan, last year’s payment was $231 higher than this week’s payment of $2,238.
Interest rates dropped last week, so buyers took advantage. CNBC reports that mortgage application volume rose 3 percent on a seasonally adjusted basis from the previous week. The increase is likely due to last week’s .03 percentage point drop in the average contract interest rate for a 30-year fixed-rate mortgage, which is now down to 4.14 percent.
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It was the largest increase in total mortgage volume since the week ended January 5, 2018. On an unadjusted basis the volume was up 3 percent.
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MBA: Mortgage applications post slight decline Brena Swanson is formerly the Digital Reporter for HousingWire. Brena joined the HousingWire news team in February 2013, also serving in the roles of.