Rates Mixed but Mortgage Apps Fall Across The Board

Posted To: MND NewsWire

The volume of mortgage applications declined during the week ended July 28. There were fewer applications for both purchase mortgages and refinancing than during the week ended July 21. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, decreased 2.8 percent on a seasonally adjusted basis and 3 percent unadjusted. The Refinance Index was down 4 percent and the share of total applications that were for refinancing pulled back from 46.0 percent to 45.5 percent. The volume of purchase mortgages was down 2 percent both seasonally adjusted and unadjusted. This put the unadjusted Purchase Index at its lowest level since March, but it remained 9 percent higher than during the same week in 2016. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed The...(read more)

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