Home loan apps slide 28%

Mortgage application volume slid 28.7 percent last week as long-term interest rates rose slightly, the Mortgage Bankers Association reported today.

According to MBA, the seasonally adjusted decline was led by a 38.1 percent drop in the index that tracks refinance applications, followed by an 11.8 percent dip in the purchase-loan index.

As a result, the refinance share of loan applications fell to 53.4 percent from 62 percent the week before.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.