U.S. mortgage activity picks up as loan rates tumble: MBA

U.S. mortgage activity picks up as loan rates tumble: MBA. 2 Min Read. NEW YORK (Reuters) – U.S. mortgage applications edged up last week, led by a jump in requests for refinancing, as home.

Meanwhile, mortgage applications slumped last week as rates rose, according to the latest data from the Mortgage Bankers Association. The market composite index – a measure of total loan application .

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NEW YORK, Aug 9 (Reuters) – U.S. mortgage applications rose last week, led by an increase in refinancing activity, as home borrowing costs broadly fell, Mortgage Bankers Association said on Wednesday. The Washington-based group’s seasonally adjusted index of overall mortgage activity rose 3.0 percent to 418.7 in the week ended Aug. 4.

U.S Mortgage Rates Tumble as Trade War Angst Bites An escalation in the U.S – China trade war and negative business sentiment weighed on mortgage rates. Any near-term upside will be limited at best.

The share of refinance mortgage activity increased from 50.5% to 53.9%, following on from a rise from 49.8 to 50.5 in the week prior. According to the MBA, negative sentiment towards the U.S – China trade war had a greater impact than the latest fed rate cut, with the slide in Treasury yields weighing on mortgage rates.

U.S. mortgage activity slips for second week: MBA.. the most widely held type of U.S. home loan, dropped to 4.33 percent from 4.46 percent, which was the highest level since April 2014.

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Earlier this week I attended wells fargo/freddie mac Affordable Housing sessions, and Freddie’s earnings noted that first-time homebuyers made up 46% of mortgage purchase loans. to U.S. news.

After falling more than a half percentage point the past four months, mortgage rates rebounded. but there was a pick-up in government refinances, with FHA activity jumping 17 percent. Additionally,

MBA’s seasonally adjusted gauge on refinancing activity rose 6.4% to 1,335.6 last week. The refinance share of overall mortgage applications grew to 42.2% from 39.7% the week before.

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