Mortgage Application Volume Falls Back as Rates Rise

Facebooktwitterlinkedin

Posted To: MND NewsWire

The flurry of mortgage activity during the week ended June 1st didn’t last long. Application volume resumed its months-long retreat last week as interest rates rose. The Mortgage Bankers Association said its Market Composite Index, a measure of volume, fell back by 1.5 percent on a seasonally adjusted basis during the week ended June 8. Because the previous week’s data was adjusted to account for the Memorial Day Holiday, the June 8 index rebounded on an unadjusted basis, rising by 9.0 percent compared to earlier shortened week. The Refinance and the seasonally adjusted Purchase indices both slipped back by 2 percent compared to the previous week. The unadjusted Purchase Index was up 9 percent week-over-week and was 0.2 percent lower than the corresponding week in 2017. Refi Index vs 30yr Fixed…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Facebooktwitterredditpinterestlinkedinmail
Show Buttons
Hide Buttons