Posted To: MND NewsWire
It was a full week after a holiday foreshortened one and also the week in which the long awaited Federal Open Market Committee move to begin interest rate increases was widely anticipated to happen. Thus it was hard to know how much of the week's ballooning mortgage application volume was attributable to Labor Day-delayed business activity and how much was generated by see-sawing interest rates after the Feds failed to act. In most cases the various volume indices rose by percentages about equal to their aggregate declines over the two prior holiday-impacted weeks. The Mortgage Bankers Association (MBA) reports that the week ended September 18 saw a 13.9 percent increase in mortgage applications on a seasonally adjusted basis compared to the week ended September 11. On an unadjusted basis the...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1NT7Whk
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