MBA: Mortgage applications decline further as refinances slide

"Purchase applications decreased almost seven percent over the week and refinances decreased around two percent, led by a larger decline in government refinances compared to conventional refinances." Added Kan, "With rates continuing to slide lower, refinance borrowers with larger loan balances seemed more apt to take action.

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A slide. to the MBA, market reaction to a more dovish FOMC statement and forecast weighed on Treasury yields and mortgage rates. The fall in rates led to an increase in refinancing activity, partly.

The slide in yields led the 30-year fixed mortgage rate to 3.87%, its lowest level since Nov-16. The MBA also noted that, in spite of falling mortgage rates, refinances fell further.

But mortgage applications for home purchases fell.. Homeowners are scrambling to refinance their mortgages now that rates are falling.. Joel Kan, MBA's associate vice president of economic and industry forecasting.. ” Purchase activity declined again, but remained around 7% higher than a year ago.

"Purchase applications decreased almost 7 percent over the week and refinances decreased around 2 percent, led by a larger decline in government refinances compared to conventional refinances." With rates continuing to slide lower, Kan noted, refinance borrowers with larger loan balances seemed more apt to take action.

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Mortgage Bankers Association expects more millennials to buy houses That’s according to the latest weekly mortgage applications survey from the Mortgage bankers association (mba), which compiled data for the week ending March 15, 2019. Record income growth helps homebuyers in poorer cities mba: mortgage applications decline further as refinances slide The decline partially. The share of refinance mortgages.

The decline. Mortgage bankers Association showed that the Market Composite Index, which is a measure of mortgage loan application volume, increased by 23.5% in the week ending 4 th January,

Added Kan, "With rates continuing to slide lower, refinance borrowers with larger loan balances seemed more apt to take action. The average.

Mortgage applications fell 5.8% on a seasonally-adjusted basis from one week earlier for the week ending December 14th, 2018, according to data from the Mortgage Bankers Association’s (MBA.

Although purchase activity remains solid, a drop in refinances contributed to mortgage applications declining further for the week ending May 1, 2019, according to the Mortgage Bankers Association.

* Refinancing applications fall to lowest in over 17-1/2 years * Loan requests to buy a home decline to near 6-month low * Most mortgage rates stay flat or fall from prior week (Adds details on.

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