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

“Mortgage rates dropped to their lowest level since the first week of 2018, driven by increasing concerns regarding the ongoing trade tensions with China and Mexico,” MBA’s chief economist Mike Fratantoni said in a statement. Most U.S. mortgage rates are based on Treasury yields.

"Mortgage applications decreased over the week, driven by a decline in refinances. With mortgage rates up for the second week in a row, it’s no surprise that refinancings slid 8 percent and average loan sizes dropped back closer to normal levels," said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting.

Interest rates on 30-year fixed-rate "conforming" mortgages or loans whose balances are $484,350 or less decreased to 4.23%, which was the lowest since January 2018. A week ago, they averaged.

Rates For Mortgage Loans U.S. mortgage activity picks up as loan rates tumble: MBA – NEW YORK (Reuters) – U.S. mortgage applications edged up last week, led by a jump in requests for refinancing, as home borrowing costs fell to their lowest levels in nearly 17 months on worries about.

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Mortgage applications decreased 0.1% from one week earlier as conforming and jumbo interest rates climbed back above 4%, which slowed refinance activity, according to the mortgage bankers association. The MBA’s weekly mortgage applications survey for the week ending Sept. 13 found that the refinance index decreased 4% from the previous week although it was 148% [.]

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After holding steady for a month, mortgage rates. activity was offset by a pullback in refinances,” said Bob Broeksmit,

U.S. mortgage applications edged up last week, led by a jump in requests for refinancing, as home borrowing costs fell to their lowest levels in nearly 17 months on worries about trade tensions.

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U.S Mortgages – Rates Tumble in a 6th Consecutive Weekly Fall Mortgage rates tumble as concerns over trade and the economic outlook drove demand for U.S Treasuries.

The Washington-based group’s seasonally adjusted measure on mortgage activity dipped 0.1% to 569.5 in the week ended Sept. 13, with loan requests for home purchases rising for a third straight week.

MBA’s seasonally adjusted barometer on refinancing requests increased 5.3 percent to 1,433.2 last week, raising its share of overall mortgage activity to 46.7 percent from 45.5 percent the prior.