Mortgage Applications Drop as Rates Hover above 5%

”Mortgage rates remained above 5 percent last week, up almost a full percentage point from their October lows, and refinance volume continued to drop.”

Palm Coast, FL – February 16, 2011

The volume of mortgage applications filed in the past week continued to fall as rates hovered above 5% and mortgage refinancings declined, the Mortgage Bankers Association said in its Weekly Mortgage Applications Survey Wednesday morning.
The survey of mortgage loan volumes for the week ending Feb. 11 shows the market composite index — a measure of loan volume — dropping 9.5% on a seasonally adjusted basis when compared to a week earlier.
Full Story >>>> HousingWire [Feb 15, 2011]

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply