US Mortgage-Refinance Activity Slumped Last Week

US Mortgage-Refinance Activity Slumped Last Week

Postby admin » Thu Sep 16, 2010 5:19 am

The volume of mortgage applications filed in the U.S. last week decreased a seasonally adjusted 8.9% from the previous week, the Mortgage Bankers Association reported Wednesday, on declines in refinancing activity.

The results excluded the impact of the Labor day holiday. On an unadjusted basis, the index tumbled 27% compared with the prior week.

Meanwhile, the average mortgage rate fell on week even as Treasury yields have turned higher after a long decline. Mortgage rates typically track yields.

Despite the further drop in loan costs, refinance activity dropped 11% last week, falling for the second consecutive period, according to the MBA's weekly survey, which covers more than half of all U.S. retail residential mortgage applications. Meanwhile, the group's seasonally adjusted index for purchase-related applications fell just 0.4%.
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Re: US Mortgage-Refinance Activity Slumped Last Week

Postby Alex Chris » Fri Dec 11, 2015 3:00 pm

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity dropped 12.9 percent in the week ended January 21.
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