U.S. mortgage applications fall on higher rates, storms: MBA
· The heightened activity comes as mortgage rates test new bottoms. Last week, rates on both the 30-year and 15-year fixed loans fell to new records, at.
In what may be a sign of just how sensitive borrowers are to fluctuations in mortgage rates, the Mortgage Bankers association revealed mortgage applications declined further for the week ending on.
The refinance share of mortgage activity decreased to 48.7 percent of total applications from 51.0 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 5.3 percent of total applications. The FHA share of total applications remained unchanged from 10.1 percent the week prior.
With interest rates pressing higher, mortgage applications fall a seasonally adjusted 7.2% during the first week of June from the week before, as volumes of.
The MBA’s loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot.
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· The refinance share of mortgage activity decreased to 48.7 percent of total applications from 51.0 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 5.3 percent of total applications. The FHA share of total applications remained unchanged from 10.1 percent the week prior.
WASHINGTON, D.C. (July 10, 2019) – Mortgage applications decreased 2.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 5, 2019. This week’s results include an adjustment for the Fourth of July holiday.