Mortgage Applications Drift Aimlessly With Rates

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Posted To: MND NewsWire

Mortgage applications continued their modest downward track during the week ended August 19. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, fell 2.1 percent on a seasonally adjusted basis from the previous week, the fourth out of five weeks it has declined. The Index was down 3 percent on an unadjusted basis. The share of applications that were for refinancing slipped to 62.2 percent from 62.6 percent and the Refinance Index decreased 3 percent from the previous week. The seasonally adjusted Purchase Index lost 0.3 percent and the unadjusted Purchase Index was down 2 percent compared with the week ended August 12. Purchases were 8 percent higher than during the same week in 2015. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed The FHA…(read more)

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