Mortgage applications drop for second consecutive week

Mortgage applications drop for 8th week – Scotsman Guide – Mortgage applications drop for 8th week. Mortgage applications fell for the eighth consecutive week ahead of the Memorial Day weekend even as mortgage rates fell, the Mortgage Bankers Association (MBA) reported. For the week ending May 25, MBA’s adjusted applications index decreased 2.9 percent from the prior week.

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Mortgage rates this week. At the current 15-year fixed rate, you’ll pay $745.21 each month for every $100,000 you borrow, down from $747.23 last week. At the current 5/1 ARM rate, you’ll pay $484.36 each month for every $100,000 you borrow, down from $487.27 last week.

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Another drop in applications for mortgages — the second in as many weeks. The Mortgage Bankers Association (MBA) reports mortgage applications were down 4.8% in the week ending February 26 from.

Mortgage rates rose again this past week, the second consecutive week rates increased. Prior to the past two weeks of increases, average mortgage rates declined for almost two months straight. Mortgage rates were expected to rise again this week because 10 year bond yields rose 7 basis points.

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Long-term borrowing costs are still much lower than a year ago, though mortgage rates rose for the second consecutive week this week. Association says overall applications were down 9 percent, with.

The 30-year fixed-rate mortgage (FRM) on the Zillow Mortgage Marketplace is currently at 4.20 percent, down five basis points from this time last week. The 30-year frm peaked on Wednesday at 4.28.

The 15-year fixed-rate mortgage dropped to 3.39% from 3.44% from the week before. Last year at the same time, the average rate for the 15-year FRM was 2.98%.

Mortgage Application Activity Down for Third Consecutive Week. The adjusted Purchase Index has declined an aggregate of 9 percentage points over the last three weeks, reflecting the recent softening of both new and existing home sales. The unadjusted Purchase Index remains 1 percent higher than during the same week in 2017.

. increased 5% from the previous week while applications for purchases increased 6%. The results include an adjustment for the Presidents’ Day holiday. It was the second consecutive week that.

Another drop in applications for mortgages — the second in as many weeks. The Mortgage Bankers Association (MBA) reports mortgage applications were down 4.8% in the week ending February 26 from the.