Mortgage Apps Managed to Improve Despite Rate Spike


Posted To: MND NewsWire

Mortgage activity increased slightly during the week ended February 1. The Mortgage Bankers Association (MBA) says its Market Composite index, a measure of application volume, rose a modest 0.7 percent on a seasonally adjusted basis, and was up 4.0 percent unadjusted. Activity has been strong since the first of the year; the index has posted three weekly gains averaging 5.63 percent, offset by a 2.6 percent decline during the week ended January 26. The Refinance Index gained 1 percent compared to the previous week and the seasonally adjusted Purchase Index was unchanged. The unadjusted Purchase Index was 7 percent higher week-over-week and 8 percent above its level during the same week in 2017. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed As interest rates rise, the composition of…(read more)

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

Show Buttons
Hide Buttons