Posted To: MND NewsWire
The volume of refinancing applications, shored up by interest rates that remained at seven- and eight- month lows, rose for the fifth time in the last six weeks . However, during the week ended August 18, the gain was a marginal one, not enough to keep the overall level of applications from declining. The Mortgage Bankers Association said its Market Composite Index, a measure of that volume, was down 0.5 percent on a seasonally adjusted basis, and lost 2.0 percent before adjustment, when compared to the week ended August 11. The Refinancing Index moved higher, but only by a scant 0.3 percent. The refinancing share of applications rose to 48.7 percent from 47.8 percent, the third straight week that share gained ground. The Purchase Index declined by 2 percent on a seasonally adjusted basis and...(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/2xrZobG
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