Refinance application share hits eight-year low: MBA

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But mortgage rates continue to increase. The Refinance Index dropped 4% from the previous week, the lowest since December 2000. The Purchase Index also decreased, falling 3% from last week, but is still 3% higher from this time last year. The refinance share of mortgage activity decreased from last week’s 35.9% to 35.7% of total applications, still its lowest level since September 2008.

MBA: Mortgage Lending To Hit 14-Year Low In 2014 By Michael Lewis on January 15, 2014 Business has been slow for signing agents in recent months, and that trend is expected to continue.

Total mortgage application. purchase transactions," MBA economist Joel Kan said. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less).

U.S. mortgage applications fall as refinance hits five-year low: MBA. The refinance share of total mortgage activity slipped to 65 percent from 66 percent the previous week, while adjustable-rate mortgages rose 8.3 percent last week to the biggest share since July 2008. The MBA typically reports its weekly application data on Wednesday,

Rates Hit 3-Year Low in MBA Weekly Survey.. but it wasn’t enough to drive application activity, the mortgage bankers association reported this morning in its Weekly Mortgage Applications Survey for the week ending June 24.. The refinance share of mortgage activity increased to 58.1 percent.

Total mortgage application volume fell 4 percent week to week and plunged. Mortgage applications drop to 4-year low as interest rates hit 8-year high. rate of income growth,” said Michael Fratantoni, the MBA's chief economist.. The refinance share of mortgage activity decreased to 39.1 percent of total.

U.S. mortgage application activity hit a five-week low even as home borrowing costs were little changed from the prior week, Mortgage Bankers Association data released on Wednesday showed. The.

During the third quarter, average loans were $13.7 billion. We are currently projecting that the program will be used next year’s earnings per share by approximately $0.19. Regarding estimates for.

5 days ago. The benchmark 30-year fixed-rate mortgage rose this week to 3.97 percent. The urgency of lower mortgage rates seems to be wearing off as total. 6 percent over the same time a year ago, according to MBA's survey.. The refinance share of activity slumped to 48.7 percent of total applications from 51.

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