Mortgage Applications Teeter as Rates Rise

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A few weeks ago, it looked like interest rates were on their way down again, but that was short-lived. So was the surge in mortgage application volume that went along with it. Interest rates rose.

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U.S. borrowers filed the fewest applications to buy a home and to refinance one in nearly four years last week as some 30-year mortgage rates increased to their highest levels in about 8-1/2 years.

Mortgage Applications Teeter as Rates Rise. Loan demand dropped 2.3 percent last week as a slight uptick in rates may have spooked potential home buyers and refinancers. 12.12.17 Mall Giant Westfield Sold in $16B Deal

. its weekly report on mortgage applications Wednesday morning, noting a week-over-week decrease of 4% in the group’s seasonally adjusted composite index for the week ending December 9. Mortgage.

Thirty-year fixed mortgage rates are at their highest level in over a month, and home buyers are starting to retreat a bit. Mortgage applications fell 7.3% last week, according to the Mortgage Bankers Association (MBA).

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presumably before rates rise even more. In fact, overall mortgage applications increased 2.5% for the week ending Dec. 16 from one week earlier, according to the Mortgage Bankers Association’s Weekly.

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It only took a small dip in rates for mortgage activity to perk up. In its weekly report, the Mortgage Bankers Association said total mortgage applications rose 5.8% for the past week, based on its.

Mortgage application volume down According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 17, 2012, mortgage application.

Mortgage application volume wasn’t as stellar as it was last week as rates climbed slightly, but it was still up across the board on an annual basis. Total mortgage applications were down 3.4% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

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The Washington-based group’s seasonally adjusted index on mortgage activity increased 1.3% to 518.7 in the week ended June 21, propelled by a 3.2% rise in refinancing activity.