Mortgage application volume drops after rate hike

mortgage application volume plunged more than 25 percent during the past two weeks in the wake of the Federal Reserve’s first rate hike in nearly a decade. Total mortgage applications slid 27 percent on a seasonally adjusted basis for the week that ended Friday, compared with two weeks earlier, according to the Mortgage Bankers Association.

The bond market reacted sharply after. rates are improving.” Meanwhile, mortgage applications pulled back. According to.

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After the Department of Labor’s December employment report revealed that only 74,000 jobs were added to the economy during the month, mortgage rates dropped from their average of 4.625 percent to around 4.5 percent.

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Mortgage applications drop 5.5% on rising interest rates. a measure of mortgage loan application volume, decreased 5.5% on a seasonally adjusted basis from one week earlier.. The refinance.

The refinancing volume drove a 2.4% increase in overall mortgage applications compared to the prior week, MBA said. The 30-year fixed rate.

Mortgage Application Volume Increases as Rates Slide. The jumbo version of the 30-year FRM, loans with a balance over $417,000, had a rate for the week that averaged 4.21 percent with 0.29 point. The previous week the contract rate had been 4.28 percent with 0.15 point.

On a whole, mortgage interest rates moved lower throughout 2017 after rising back above 4% in January. But what’s going to happen in the next few years? According to the top economists at the.

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Total mortgage application volume rose 3.1 percent last week from the previous week. The seasonally adjusted tally from the Mortgage Bankers Association remains 12 percent lower than a year ago, when refinance volume was much more robust.

Mortgage application volume fell. contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) decreased to 4.50 percent from 4.60 percent. "Despite more.

The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume. rate mortgage (frm) dropped by seven basis to 4.69 percent – the lowest rate since April.

Mortgage Rate Forecast with Chart – FNMA 30-Year 3.5% Coupon Bond The FNMA 30-year 3.5% coupon bond ($103.16, +11 bp) traded within a wider 61 basis point range between a weekly intraday low of $102.89 on Tuesday and a weekly intraday high of $103.50 on Wednesday before closing the week higher at $103.16.