U.S. mortgage applications dropped last week
NEW YORK (Reuters) - Applications for U.S. home mortgages tumbled last week as demand for refinancing slumped for a second week in a row, though new purchase activity edged up, an industry group said on Thursday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 6.7 percent in the week ended June 29.
The MBA's seasonally adjusted index of refinancing applications slumped 8.4 percent, after a more than 8 percent drop the previous week. The gauge of loan requests for home purchases, a leading indicator of home sales, improved modestly, up 0.6 percent.
The refinance share of total mortgage activity slipped to 78 percent of applications from over 79 percent the week before.
Fixed 30-year mortgage rates averaged 3.86 percent, down 2 basis points from 3.88 percent. It was yet another record low.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
(Reporting By Leah Schnurr; Editing by Leslie Adler)
Doug Spiers / Principal Broker
Blog Archive2018-12-17 10:45:22
Reasons to sell this winter!
Sunset City December 2018 Real Real Estate Report
3 - Things homeowners are thankful for watch this;
Real Estate News Update November 15, 2018
Sunset November 2018 Market Report
September 2018 Average Days on the Market
How Supply & Demand Impacts Real Estate Values
4 Things Proactive Homeowners Do in September
House-Hunting Tips to Avoid #Facepalm Moments
Will the next economic slow down impact the value of your home?
October Weber County Market Statistics As Of 12/1/17
October Davis County Market Statistics As Of 12/1/17
Median Days on the Market s to 34
Your Moving Checklist
4 Reasons to Sell This Fall
Best Long-Term Investment
No Matter Which Groundhog You Listen To...
Existing Home Sales Bounce Back
Real Estate News You Need to Know Wed. 12/9/15
2016 Home Prices and Rates?
2016 Home Prices?
New Home Sales Surge
30-Year Fixed Mortgage Rates Fall to 5-Month Low;
Click here to see ALL articles.