Mortgage applications leap nearly 10% on lowest rates in almost a year. Diana Olick. CNBC.. Mortgage applications to refinance a home loan, which are highly rate-sensitive, rose up 9 percent for the week.. The jump in mortgage applications is impressive on its own, but it would have been.
The Federal Housing Administration share of mortgage apps rose slightly from last week’s 9.7% to 10%, and the Veterans Affairs’ share of applications also rose, increasing from 10.1% the previous week to 11% this week.
High frequency indicators can give us a nearly up-to-the-moment view of the economy. Meanwhile, an anomalous spike in real M1 and a surge in mortgage applications prompted by a decline in mortgage.
U.S. mortgage applications jumped to their highest level in more than 2-1/2 years last week, led by a surge in refinancing activity, as some home borrowing costs tumbled to their cheapest level.
Mortgage Applications in the united states averaged 0.50 percent. a 21.7 percent jump in the previous period, data from the Mortgage Bankers Association showed. US Manufacturing Growth Weakest in Nearly 10 Years.
The jump in mortgage applications was ascribed to "plunging" mortgage interest rates.. You can practically hear between the lines, so to speak, the. spark, picking up over 10%, as both FHA and VA refinancing activity saw.
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"It certainly looks like the worst is behind us," said Leif Thomsen, chief executive officer of Mortgage Master, an top non-bank lender. "The key is to make sure interest rates stay low." Sales for.
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Mortgage interest rates fell to the lowest level in four months, but that did nothing to spark activity in the mortgage market. Total mortgage application volume dropped 9.8 percent at the end of last week from two weeks earlier, according to the Mortgage Bankers Association’s seasonally adjusted index.
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