Tags: mortgage | applications | home | loan | demand

Refinancing Applications Lowest Since July: MBA

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Wednesday, 04 October 2017 10:37 AM

 U.S. mortgage applications to refinance a home fell to their lowest in two months, the Mortgage Bankers Association said on Wednesday, as borrowing costs broadly rose last week in line with higher U.S. bond yields.

The Washington-based group’s seasonally adjusted weekly index on refinancing activity declined 1.8 percent to 1,419.2 in the week ended Sept. 29. This was the lowest since 1,361.0 in the July 28 week.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $424,100 or less increased to 4.12 percent from 4.11 percent, with points increasing to 0.45 from 0.40, including the origination fee, for 80 percent loan-to-value ratio loans.

"Rates moved higher over the course of last week, at least partially due to signs of stronger economic growth. Four of the five mortgage rates that we track increased," Joel Kan, an MBA economist, told CNBC.

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 U.S. mortgage applications to refinance a home fell to their lowest in two months, the Mortgage Bankers Association said on Wednesday, as borrowing costs broadly rose last week in line with higher U.S. bond yields.
mortgage, applications, home, loan, demand
144
2017-37-04
Wednesday, 04 October 2017 10:37 AM
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