WASHINGTON -- Mortgage applications in the United States dropped last week as fewer homeowners sought to refinance their properties.
The Mortgage Bankers Association’s index fell 2.2 percent in the period ended Nov. 16, the Washington-based group said Wednesday.
The refinance gauge decreased 3.2 percent, and the purchase measure rose 2.7 percent to reach a five-month high.
The average rate on a 30-year fixed loan climbed to 3.54 percent from the prior week’s 3.52 percent, which was the lowest in records dating back to 1990.
Borrowing costs on a 15-year fixed mortgage increased 0.1 percentage point to 2.89 percent.
The share of applicants seeking to refinance a loan declined to 80.7 percent from 81 percent the prior week.
Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.
SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.
All contents herein copyright San Diego Source ® 1994-2016