This is why millennials need a new credit scoring system

This is why millennials need a new credit scoring system

Turns out they WANT credit, but just can't GET credit

Meet our incredible 2015 Women of Influence

Announcing 40 leaders driving the housing economy

CFPB to mortgage industry: Get out of MSAs

Industry calls move regulation by enforcement
W S
Lending / The Ticker

Mortgage applications mostly unchanged, drop slightly

/ Print / Reprints /
| Share More
/ Text Size+

Mortgage application activity fell 0.9% for the week ending Nov. 23, following a 2.2% drop a week earlier, the Mortgage Bankers Association said.

On an unadjusted basis, applications fell 24% when compared to the prevous week. 

The latest results were adjusted for the Thanksgiving Day holiday.

The refinance index declined 2% from the prior week while the seasonally adjusted purchase index increased 3% from a week earlier.

The refinance share of mortgage activity hovered at 81% of all applications, unchanged from a week before, while the adjustable-rate mortgage share of activity declined to 4% of total applications.

The average 30-year, fixed-rate mortgage with a conforming loan balance fell to 3.53% from 3.54%, while the average contract interest rate for a 30-year FRM with a jumbo loan balance declined to 3.75% from 3.76%.

The average contract interest rate for a 30-year FRM backed by the FHA remained unchanged at 3.36%, and the average 15-year FRM was unchanged at 2.89%. The 5/1 ARM fell to 2.60% from 2.62%.

kpanchuk@housingwire.com

Recent Articles by HousingWire Staff

Comments powered by Disqus