Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: Weekend Economists Hit the New Year (and it hits back) Goodbye 2013 / Hello 2014! [View all]Demeter
(85,373 posts)3. Mortgage Applications Drop to 13-Year Low
http://blogs.wsj.com/economics/2013/12/24/mortgage-applications-drop-to-13-year-low/
The average number of mortgage applications slipped 6.3% to a 13-year low on a seasonally adjusted basis as interest rates rose from the previous week, the Mortgage Bankers Association said Tuesday.
On an unadjusted basis, MBA said the market composite index fell 7% from the previous week. The refinance index dropped 8% from the prior week, while the seasonally adjusted purchase index eased 4%. Interest rates have generally been rising since early November, resulting in modest declines in weekly mortgage applications:
The average rate on 30-year fixed-rate mortgages with conforming loans increased to 4.64% from 4.62% in the prior week. Rates on 30-year fixed-rate mortgages with jumbo-loan balances rose to 4.63% from 4.61%.
The average rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration climbed to 4.29% from 4.25% a week earlier.
The average rate for 15-year fixed-rate mortgages increased to 3.74% from 3.66%. The 5/1 ARM average climbed to 3.26% from 3.20%.
The average number of mortgage applications slipped 6.3% to a 13-year low on a seasonally adjusted basis as interest rates rose from the previous week, the Mortgage Bankers Association said Tuesday.
Following the Federal Reserves taper announcement, mortgage application volume dropped again last week, with rates increasing and refinance application volume falling to its lowest level since November 2008, said Mike Fratantoni, MBAs vice president of research and economics
On an unadjusted basis, MBA said the market composite index fell 7% from the previous week. The refinance index dropped 8% from the prior week, while the seasonally adjusted purchase index eased 4%. Interest rates have generally been rising since early November, resulting in modest declines in weekly mortgage applications:
Edit history
Please sign in to view edit histories.
68 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Weekend Economists Hit the New Year (and it hits back) Goodbye 2013 / Hello 2014! [View all]
Demeter
Dec 2013
OP
I was hearing about the triple meltdown via enenews since long before TEPCO 'confessed'.
Ghost Dog
Dec 2013
#31
How Detroit went broke: The answers may surprise you - and don't blame Coleman Young
Demeter
Dec 2013
#4
Citizens Have Become Subjects / 2014 Will Bring More Social Collapse By Paul Craig Roberts
Demeter
Dec 2013
#8
Sorry for letting them snoop? Dell apologizes for ‘inconvenience’ caused by NSA backdoor
Demeter
Dec 2013
#28
U.S. to China: We Hacked Your Internet Gear We Told You Not to Hack By Cade Metz
Demeter
Dec 2013
#29
President Obama claims the NSA has never abused its authority. That's false. Trevor Timm
Demeter
Dec 2013
#32