Mortgage apps drop 3.5%, refis drop 8%

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Sales weren’t just lower, they were 15% lower versus already downbeat forecasts calling for an 8% drop. Moreover, inventory numbers moved. 2.26 and trickling down to 2.25+ by the close. Fannie 3.5.

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Mortgage apps: rate sensitive apps suggest stabilization in Housing. The correlation between rates and application activity has proven to be discontinuous with a clear drop in activity as rates pushed towards 5% and higher and a resumption in activity below 4.75%.. The Refinance Index ROSE.

Mortgage Rates Drop Again; Existing-Home Sales and Prices Climb. mortgage loan applications dropped 4.3% from one week earlier, with an 8% slip in refis in contrast to previous weeks of gains.

Mortgage rates are nearing historic lows again in the United States, making it an. While they tried to purchase a house with a 3.5% rate like many of their. If they drop a full percentage point – which is generally the rule of thumb. started to spike in April, with a 32% increase in applications over last year,

Here’s an excerpt: Likewise, Julian Hebron, vice president of RPM Mortgage in San Francisco, said, "As rates continue to drop, refinancing repeatedly is. and were back to no-cost refis at record.

Mortgage applications fell by 3.5% from one week earlier on a seasonally-adjusted basis. fell 3% from the previous week. The Refinance Index fell 8% over the same period. The seasonally-adjusted.

The average number of mortgage applications slipped 6.3% to a 13-year low on a seasonally adjusted basis as interest rates rose from the previous week, the Mortgage Bankers Association said.

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Mortgage application volume increased 2.9% during the week ended June 17, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances increased 7% on lower rates, while applications for purchases decreased 2%. On an unadjusted basis, total.

FHFA: Home prices increase again, rise 1.3% April FHFA housing price index rose. 71.5B deficit expected, a 5.1% increase from the $70.9B deficit in April; exports were $140.2B, imports $214.7B. May new home sales of 626K disappointed.

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