Wednesday, May 9, 2018
Mortgage Purchase And Refinancing Applications Fall
Purchase applications for home mortgages fell a seasonally adjusted 0.2
percent in the May 4 week, shrinking the unadjusted year-on-year gain to
3 percent. Applications for refinancing fell 1 percent from the
previous week to their lowest level since October 2008, with the
refinance share of mortgage activity decreasing by 0.2 percentage points
to 36.3 percent, the smallest share since September 2008. The average
interest rate on 30-year fixed rate conforming mortgages ($453,100 or
less) fell 2 basis points from the previous week to 4.78 percent.
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