MBA: Mortgage applications fall again, decrease 1.3%

Despite falling rates, U.S. mortgage applications fall again. 2 Min Read.. Other mortgage rates MBA tracks were 2 basis points to 7 basis points lower than a week earlier.

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according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 8, 2018. The MBA pointed out last week included an adjustment for Memorial Day..

The Mortgage Bankers Association (MBA) released its report on mortgage applications Wednesday morning, noting a week-over-week decrease of 1.3% in the group’s seasonally adjusted composite index.

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Although purchase activity remains solid, a drop in refinances contributed to mortgage applications declining further for the week ending May 1,

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"Mortgage rates generally fell, but not as low as they had in 2016," said Joel Kan, an MBA economist. "Borrowers potentially looking at a refinance might be waiting for a much bigger decrease in order to act." Mortgage applications to purchase a home fell 3 percent for the week and are just 4 percent higher than one year ago. Annual gains in.

U.S. mortgage applications to buy a home and to refinance one recorded their. weekly decline in four months as some mortgage rates increased to. last week as investors scaled back their safe-haven bond holdings amid.

Mortgage applications continue to fall, dropping 0.1% from the. rate for 15-year fixed-rate mortgages decreased from 4.24% last week to.

Headline measures the change in number of applications for mortgages backed by the MBA during the week. Despite the drop in mortgage.

Mortgage applications fall again, as borrowers wait for even. – "Mortgage rates generally fell, but not as low as they had in 2016," said Joel Kan, an MBA economist. "Borrowers potentially looking at a refinance might be waiting for a much bigger decrease in order to act." Mortgage applications to purchase a home fell 3 percent for the week and are just 4 percent higher than one year ago.

2017 HW Vanguard: Tawn Kelley