Wednesday, December 16, 2015
Mortgage Application Activity Little Changed
Application activity was little changed in the December 11 week, up 1
percent for refinancing and down 3.0 percent for home purchases.
Year-on-year, purchase applications remain very high, up 34 percent in a
gain that in part reflects a pulling forward of demand ahead of what is
expected to be a rate hike at today's FOMC. Rates were little changed
in the week with the average 30-year fixed loan for conforming loan
balances ($417,000 or less) unchanged at 4.14 percent. The rise in
purchase applications points to strength for today's housing starts and
permits data.
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