Application activity flat even though rates fell

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Mortgage application volume fell 3.3% on an adjusted basis during the week ended May 24, as the average rate for a 30-year fixed rate mortgage remained flat at 4.33%, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances fell 6% while applications for purchases fell 1%, according to the report.

Sales in that month reached $32.6 billion, and even though sales fell slightly in the following five or six months, they rebounded and exceeded that level by the middle of last year. Modest Change on Mortgage Rates. In an interesting but not surprising development, the 30-year fixed mortgage rate fell by 10 basis points to 4.31% last week.

Total mortgage application volume fell 3.7 percent last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 11 percent lower.

The Fed – Beige Book – September 12, 2018 – Consumer spending continued to grow at a modest pace since the last report, and tourism activity expanded, to varying degrees, across the nation. Manufacturing activity grew at a moderate rate in most Districts, though St. Louis described business as little changed and Richmond reported a decline in activity.

The number of mortgage applications filed in the U.S. last week fell 10% from the prior week, the Mortgage Bankers Association said Wednesday. Refinancing activity dropped 12. Interest rates,

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Mortgage rates plummet to three-year lows – even though rates moved lower, mortgage applications slumped this week, according to the latest data from the Mortgage Bankers Association. The market composite index – a measure of total loan.

This week we cover the big drop in vacancy rates, lower home prices (yes, more bad news), interest rates, and mortgage application activity. Apartment Vacancy Rates Fall Vacancy rates fell in the multi-family sector. reis reported that apartment vacancy dropped from 6.6% to 6.2% in the first quarter of 2011.

Consumer worries over the direction of the U.S. economy affected mortgage application activity this past week even as interest rates remained flat or declined, according to the Mortgage Bankers Association.. Even though mortgage delinquencies increased on a quarter-to-quarter basis, strong.