Mortgage applications down 2.3% led by drop in purchases

led by a 10% drop in the Midwest and a 9.8% drop in the South. More: Investment return: Here’s how much your home remodel will pay you back More: U.S. home sales tumbled 3.6% in December; shortages.

Purchases Lead Drop in mortgage applications. seasonally adjusted business down from holiday week. oct. 25, 2017. By Mortgage Daily staff. After making adjustments for the recent holiday, new applications for home loans slowed last week.

U.S Mortgages – Rates Hit Reverse with Interest Mortgage rates hit reverse last week and could see a further downside if the FED delivers a hawkish outlook on Wednesday.

The move marked a two-day decline of about 2.3. mortgage activity relative to home purchases, versus the decrease seen in refinance activity. In the data reported on the morning of September 12,

Fitch sees no sign of strategic default for rising principal reductions While Standard & Poor’s mulls over a U.S. credit rating downgrade, China’s Dagong Global Credit Rating Co. wasted no time cutting its U.S. debt outlook. saga isn’t over on the home front. Moody’s.CitiMortgage paying borrowers $12,000 after a short sale  · does the seller make money on a short sale besides the lawyer? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

PropertyWire U.S. Mortgage Applications Fall The number of U.S. mortgage applications took a drop in December. District Sees Sales Down, Rentals Up A glut of new buildings in Manhattan’s Financial.

Mortgage applications surge as rates drop. which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually.. mortgage applications to purchase a home.

Mortgage interest rates, at historic lows for weeks, rose to 5.25 percent for a 30-year fixed rate loan last week, a level last seen in January. That led to a 16.2 percent seasonally adjusted drop..

Contract closings declined 2.3% month over month to a 5.57 million annual rate (the forecast was 5.65 million), after a revised 5.7 million the prior month. The median sales price rose 6% year over year to $244,800.

 · 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.

Total mortgage applications were down 3.4% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. But volume was up 31.6% from the same week a year ago.

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It’s been a weak time for mortgage applications despite news last week from MBA that new home purchases were up 17% in March. Here’s what happened. mortgage applications down 2.3% led by drop.

Do the math and for most loans it amounts to barely a few dollars difference, but a slight uptick in interest rates was enough to end a brief rally in mortgage applications. uptick led to a fairly.