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Mortgage Mix: Rates Slightly Down, Memorial Weekend Saw Application Adjustment

Mortgage Mix: Rates Slightly Down, Memorial Weekend Saw Application Adjustment
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Freddie Mac , Mike Fratantoni , Chris Grimes , Sam Khater , Jason Bressler , Ralph Mclaughlin , Michael Bonagura , Barry Gordy , Mortgage Bankers Association , Mortgage Mix , Chief Economist Ralph Mclaughlin , Market Composite , Memorial Day , United Wholesale Mortgage Executive , Chief Technology Officer Jason Bressler ,

Mortgage Applications Take A Holiday Dip: MBA's Year-End Report Reveals 9.4% Drop In Last Week Of 2023

Mortgage applications dropped 9.4% in the last week of 2023 despite a decline in interest rates, according to the Mortgage Bankers Association (MBA). The results of the MBA's Weekly Mortgage Applications Survey, released Jan. 3, include adjustments to account for the holidays. On an unadjusted basis, the Market Composite index declined 38% compared with two weeks ago. The holiday-adjusted Refinance Index declined 18% from two weeks ago, and the unadjusted Refinance Index plunged 43% during the s ....

Elon Musk , Joel Kan , Warren Buffett , Jeff Bezos , Veterans Affairs , Housing Authority , Federal Reserve , Weekly Mortgage Applications , Us Department Of Agriculture , Mortgage Bankers Association , Mortgage Applications Survey , Market Composite , Refinance Index , Deputy Chief Economist Joel Kan , Jeff Bezos Backed , Federal Housing Authority , Stock Market Game , Benzinga Pro , Day Trial , Mortgage Applications Take , Holiday Dip , End Report Reveals , Mortgage Applications , Passive Income , Interest Rates , Real Estate Notes ,

Refinancing Perks Up as Rates Drop

Double-digit declines in many mortgage rates helped revive interest in refinancing last week and a subsequent increase in the Mortgage Bankers Association’s (MBA’s) Market Composite Index. The Index, a measure of application volume, rose 2.8 percent on a seasonally adjusted basis. Before adjustment, the Index was up 43 percent, due in large part to a rebound from Thanksgiving week. MBA said applications for refinancing were 14 percent higher than the previous week and 10 percent above the activity during the same week in 2022. The refinance share of applications reached 34.7 percent of total applications, up from 30.6 percent the previous week. [refiappschart] The seasonally adjusted Purchase Index slipped by 0.3 percent from one week earlier but was up 35 percent on an unadjusted basis. It was 17 percent lower than the same week one year ago. [purchaseappschart] “Mortgage rates declined last week, with the 30-year fixed-rate mortgage falling to 7.17 percent & ....

Joel Kan , Weekly Mortgage Application , Mortgage Bankers Association , Market Composite , Purchase Index , Deputy Chief ,