Posted by: in Home Mortgage Online, tags: Adjusted Basis, Composite Index, Decline, Excerpt, Interest Rates, Mba, Mortgage Applications, Mortgage Bankers Association, Mortgage Rates, Nbsp, O Reilly, Purchase Applications, Purchase Index, Purchase Mortgages, Purchasing, Refinance Rates, Refinancing, Term Mortgages, Unadjusted Basis, Unadjusted Index Brian O?Reilly wrote an interesting post today on
Here?s a quick excerpt
The volume of mortgage applications both
for purchasing and refinancing declined slightly during the week ended August
3.? The Mortgage Bankers Association
(MBA) said this morning that its seasonally adjusted Market Composite Index
which measures that volume was down 1.8 percent from the level a week earlier? On an unadjusted basis the Index decreased 2
percent.
After a strong showing for several weeks
the Refinance Index fell 2 percent although, with the decline in purchase applications
those for refinancing maintained the same 81 percent share they held during the
week ended July 27.? Applications for
purchase mortgages slipped 1 percent on a seasonally adjusted basis while the
unadjusted index was down 2 percent compared to the previous week and was 12
percent lower than in the same period in 2011. ?
Purchase Index vs 30 Yr Fixed
Click Here to View the Purchase Applications Chart
Refinance Index vs 30 Yr Fixed
Click Here to View the Refinance Applications Chart
Interest rates for longer term mortgages rose slightly
during [...]
Read the rest of this great post here
Source: http://www.realestatemortgageonline.com/9807/mortgage-applications-fall-as-average-rates-rise/
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