U.S. mortgage applications fall on higher rates, storms: MBA

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In what may be a sign of just how sensitive borrowers are to fluctuations in mortgage rates, the Mortgage Bankers association revealed mortgage applications declined further for the week ending on.

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The U.S. due rates,” Walsh says. “While forbearance is in place for many borrowers affected by these storms, our survey asks servicers to report these loans as delinquent if the payment was not.

 · Falling yields rock U.S. mortgage bond market. showed loan applications for home refinancing hitting their highest level since November 2006 as some 30-year home borrowing costs fell to their lowest levels in the same time frame. "We fully expect that refinance volume will jump even higher this week given the further drop in rates," Mike.

U.S. mortgage applications to buy a home and to refinance one declined for the first time in three weeks, as home borrowing costs rose in step with higher U.S. bond yields, the Mortgage Bankers Association said on Wednesday.

Mortgage applications to purchase a home fell 1% for the week but were 7% higher annually. Lower mortgage rates aren’t enticing homebuyers much, as the spring housing season draws to a close.

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U.S. mortgage applications recorded their steepest weekly drop since December on a pickup in borrowing costs and Hurricane Irma’s impact on Florida, the Mortgage Bankers Association said on Wednesday.

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This suggests that move-up and higher-end buyers have so far become a greater share of the spring market,” says Mike Fratantoni, MBA. of mortgage activity fell to 40.0% of total applications from.

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