Daenin Arnee
- MBA Mortgage Applications
- Composite Index: -0.6% vs. -0.7% a week ago.
- Purchase Index: -0.1% vs. -0.2% in the previous week.
- Refinance Index: -1.6% vs. -1.6% in prior week.
- 30-year fixed-rate mortgages came in at 6.91%, compared to 6.93% last week.
- “Mortgage rates moved lower last week, but that did little to ignite overall mortgage application activity,” Mortgage Bankers Association’s vice president and deputy chief economist, Joel Kan, said.
- “Elevated mortgage rates continued to weigh down on home buying. Purchase applications were unchanged overall, although FHA purchases did pick up slightly over the week. Refinance applications decreased to fall 5% below last year’s pace,” Kan added.
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