Rising rates stifle mortgage application volume

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The latest mortgage application data represents a drop in volume of 15% compared to the same time a year ago. The largest fall in activity came from refinances with refinance volume falling 3%.

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The volume of mortgage applications. The average rate for 30-year FRM backed by the FHA increased 1 basis point to 4.71 percent. points jumped from 0.53 to 0.79. The 15-year FRM hit a seven year.

The adjustable-rate mortgage share of activity rose to 7.4% of total applications. The Federal Housing Administration ‘s share of mortgage apps increased from last week’s 10.2% to 10.3%.

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Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high, according to the Mortgage Bankers Association. The MBA’s Weekly Mortgage Applications Survey for the week ending April 12 found that total volume fell 3.5% as the refinance index decreased 8% from the previous week.

Rising mortgage rates again reduce refinance application volume Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high, according to the Mortgage Bankers Association.

The Mortgage Bankers Association reported that its market composite index, a measure of application volume, managed to increase a meager. refinancing rallied yet again, with the Refinance Index.

Rising mortgage rates are making an impact on refinance mortgage application volume, according to new information from the Mortgage Bankers Association. " The MBA’s Weekly Mortgage Applications Survey for the week ending April 12 found that total volume fell 3.5% as the refinance index decreased 8% from the previous week," according to National.

Volume was 16 percent lower than a year ago. rising interest rates are now clearly taking their toll on potential homebuyers. total mortgage application volume fell 4 percent last week from a week earlier and plunged 16 percent from a year ago, according to the Mortgage.

 · Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points over that time.