FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Mortgage applications fell 5.1% last week

/ Print / Reprints /
| Share More
/ Text Size+
Mortgage applications fell 5.1% last week even as mortgage rates declined after a sharp rise, an industry trade group said. The market composite index – a measure of mortgage loan application volume – fell 5.1% on a seasonally adjusted basis from the previous week. On an unadjusted basis, the index fell 24%, the Mortgage Bankers Association said. Last week's results include an adjustment for the July 4 holiday. The seasonally adjusted purchase index declined 2.6% for the week ended July 8, while the unadjusted purchase index decreased 21.9%. The refinance index, which isn't seasonally adjusted, fell 6.2% from the prior week and is 42.1% lower than last year. The four-week moving average for the seasonally adjusted market index fell 4.7%, while the four-week moving averages for the purchase and refinance indices fell 1% and 6.3%, respectively. Meanwhile, the refinance share of mortgage activity fell to 65.6% of total applications, down from 66.4% last week. The 30-year, fixed rate mortgage dropped to 4.55% from 4.69%, while the 15-year, FRM declined to 3.68% from 3.79%. Write to Kerri Panchuk.

Recent Articles by Kerri Panchuk

Comments powered by Disqus