Mortgage application volume slows as summer ends

Refinancing applications fell to the lowest level in more than a year and mortgage applications for new purchases also declined for the week, demonstrating mixed signals for the housing market, according to the mortgage bankers association. The composite index, a measure of loan application volume.

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Mortgage applications for the week of Aug. 5 rose more than 21% over the previous week and three quarters of those applications were for were for refinancing, according to the Mortgage Bankers.

According to the Mortgage Bankers Association’s latest Weekly Mortgage Applications Survey for the week ending July 13, 2018, U.S. mortgage applications decreased 2.5 percent from one week earlier.Last week’s results included an adjustment for the Fourth of July holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.5 percent on a seasonally adjusted.

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Mortgage application volume also rose after rates saw the biggest weekly decline at the end of March. Volumes were up 28% from a year prior, according to the Mortgage Bankers Association’s.

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Summer is traditionally the best time to sell a home, but recent headlines show sales activity is starting to slow in markets across the country. Said a former business development associate, “The.

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Auction clearance rates firm as buyers return – Anecdotal evidence of banks reporting more home loan enquiries and applications could. is emerging first at the lower end.

U.S. Bancorp (USB), one of the largest mortgage lenders by volume in the US, has not been impacted to. With consumer preference toward digital showing no sign of slowing down, the economic moat.

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