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Latest MBA weekly survey shows mortgage applications are down

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According to the Mortgage Bankers Association mortgage application, volume decreased 3.5% last week from the previous week. Total volume was fourteen percent higher compared with the same week one year ago.

Home loan refinance applications brought the total down, to 8% for the week but still rising 26% higher from a year ago, when interest rates were higher. Home purchase … Read the rest

As interest rates spike to a near 8-year high, weekly mortgage applications drop 7.1%

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Mortgage application volume fell sharply to 7.1 percent for last week based on a survey from the Mortgage Bankers Association’s latest report ending October 12, 2018, still the data did not factor in the Columbus Day holiday.

Home loan refinance applications were down 38.1 percent lower than a year ago and fell 39.0 percent from the week before. Rates have … Read the rest

According to the most recent survey, volume is down for mortgage applications

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For the week ending October 5, 2018, Mortgage applications moved down 1.7 percent from the previous week, based on data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.

The Market Composite Index indicator, measures mortgage loan application volume, that shows the decrease to 1.7 percent on its seasonally adjusted base from one week earlier. On the unadjusted base, … Read the rest

For the third time in 2018 Federal Reserve raises interest rates

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The benchmark interest rate was expectedly increased by one-quarter of a percentage point by the Federal Reserve on Wednesday, with more signs that the rates will be raised once more in December. After the conclusion of its two-day meeting where the monetary policy is decided, the Federal Open Market Committee continually pronounced the economic conditions as strong. According to the … Read the rest

As interest rates move to a 7-year high weekly mortgage applications move up 1.6%

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The entire mortgage application volume has recorded an increased valued at 1.6 percent last week in comparison with the penultimate week. The increased interest rates may be the factor behind the return of the borrowers to their brokers. The average contract interest rate for 30-year fixed-rate mortgages with corresponding loan balances increased to its highest level for the first time … Read the rest

Atlanta’s Federal Reserve Bostic: “Gradual increase in nominal interest rates over the next few quarters”

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According to the statement made by Atlanta Federal Reserve President, Raphael Bostic on Thursday, the Federal Reserve will persist in the raising of the interest rates for the next several quarters in the face of lower unemployment rates as no sign inflation is about to start.

Bostic, who is currently a voter on economic policy, has been indecisive on the … Read the rest