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Mortgage applications down 1.2% as rates continue to rise

Mortgage applications volume rose on the same week that global interest rates hiked. In its latest report, Mortgage Bankers Association’s Weekly Mortgage Applications Survey reported an overall increase of 1.4 percent in total mortgage applications from the week prior. The Survey. The seasonally adjusted purchase index increased by 3 percent compared to the previous week but the refinance.

The refrain is becoming all too familiar. mortgage interest rates rise, and homebuyers and refinancers retreat. Total mortgage application volume fell 1.2 percent last week from the previous week, according to the Mortgage Bankers Association. Volume is down nearly 11 percent in the past four weeks, as rates climbed.

The average contract interest rate for 5/1 adjustable-rate mortgages also increased from 3.62% to 3.7%, reaching its highest level since April 2011. The refinance share of mortgage activity fell to 49.4% of total applications from 52.2% last week. The ARM share of activity remained at 5.2% of total applications.

Mortgage application continue to fall as interest rates rise. May 16, 2018 7:09 AM ET. Clock ticks down for new NAFTA. MBA Mortgage Applications Composite Index: -2.7% vs. -0.4% (W/W)..

Mortgage rates fell fairly substantially last week, fueled by a move to bonds as concerns continue to mount over the potential impact of prolonged trade wars with China and Mexico. If you’re in the market for a mortgage, you’re the beneficiary of this uncertainty and it’s a great time to lock your rate .

Mortgage rates continue to slide, spurring more homeowners to refinance. The rate on a 30-year fixed rate mortgage fell to 4.13% from 4.14%, including points and fees for the week ended June 9.

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Generally, mortgage rates tend to rise when the economy is growing, the job market is healthy and wages are rising. In this environment, people can afford more and are more willing to take out a.

Daily Rate Summary Friday, January 11th 2019. Mortgage Rates and Treasury Yields Rise. On Thurs47y, Treasury bond yields and Mortgage interest rates rose as the bond market is forced to contemplate the effects of a higher Federal Funds rate in the next year.

Mortgage Interest Rates: How To Shop Lenders and Win! "Recent volatility in the financial markets and increasing rates continue to adversely impact mortgage application activity. loan they originated in 2018, down from $711 per loan in 2017. Mortgage.