Application activity flat even though rates fell

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  1. s in some areas, crop production this fall was strong, hitting records in some Ninth District states. But continued low crop prices dealt a financial blow to farmers from July through September 2016, according to the Minneapolis Fed’s third-quarter (October) agricultural credit conditions survey.

    The 15-year fixed-rate average dropped to 3.16 percent with an. Because of this, I think mortgage rates will be flat in the coming week.. The refinance share of mortgage activity accounted for 51.5 percent of all applications.

    Even though lower interest rates might not jumpstart the housing market they usually cause an uptick in refinance activity. Refinances have been slow for more than almost two years since the Federal Reserve’s announcement of the end of its busy spring property season with a bang, as sales surged 17 per cent in April compared with a year earlier and prices also pushed higher. The number of transactions totalled 9,042 units last month, compared with 7,744 units in April 2018, the Toronto real estate board said Monday.