Mortgage Volume Flattens as Rates Rise

Posted To: MND NewsWire

The volume of mortgage applications received during the week ended April 20 was largely unchanged from the previous week . The Mortgage Bankers Association's (MBA) said its Market Composite Index, a measure of that volume, ticked down 0.2 percent on a seasonally adjusted basis from one week earlier although it was 1 percent higher before adjustment. The seasonally adjusted Purchase Index was unchanged. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 11 percent higher than the same week in 2017. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed The refinance portion of mortgage activity continued to retreat to new post-recession lows, accounting for 37.2 percent of the total received compared to 37.6 percent the previous week. It was the smallest...(read more)

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