Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Applications for mortgage loans for the week ending Feb. 6 were down 24.5 percent from the previous week and 43.9 percent from a year ago, with significant declines in both refinancings and purchase mortgages, the Mortgage Bankers Association said today.The association's Weekly Mortgage Applications Survey showed applications for refinancings fell 30.3 percent from a week ago, while applications for purchase loans were down 9.8 percent on a seasonally adjusted basis. Applications for conventional purchase loans fell 11.1 percent, and applications for government-backed loans (largely FHA) were down 7 percent.Applications for refinance loans made up 66.7 percent of all applications, down from 73.2 percent the week before. Adjustable-rate mortgage (ARM) loans accounted for 2.5 percent of appl...