Wednesday, April 27, 2016
Mortgage Purchase Applications And Refinancing Slip
Purchase applications are not pointing to Spring acceleration for the
housing sector, down 2.0 percent from the April 22 week with the
year-on-year rate continuing to come down, to 14 percent from 17
percent. This rate was as high as 30 percent as recently as March.
Refinancing activity also declined, down 5.0 percent in the week. Rates
remain very low with the average 30-year mortgage for conforming loans
($417,000 or less) at 3.85 percent for a 2 basis point rise in the week.
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