Weekly mortgage applications to buy a home hit the lowest level in a month as rates continue to rise – Total mortgage application volume slipped as interest rates rose, according to the Mortgage Bankers Association. Home sales have been weakening for months, as high prices hit affordability and low.
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Mortgage applications fall, as refinancing hits 20-year low – A significant drop in mortgage interest rates was not enough to entice homeowners to refinance their loans last week. total mortgage application volume decreased 0.5 percent on a seasonally adjusted.
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Mortgage rates drop, but borrowers are not impressed – Volume was nearly 27 percent lower than a year ago, when rates were lower. The refinance share of total mortgage application volume fell to its lowest level since August, 2008, at just 35.3 percent..