Loan Demand for Home Purchases on the Rise Daily Real Estate News | Wednesday, October 23, 2013 Mortgage applications for home purchases ticked up last week as mortgage rates dropped to their lowest level since June, the Mortgage Bankers Association reported Wednesday. Purchase applications -- viewed as a leading gauge for future home sales -- rose 0.7 percent last week. Overall, mortgage applications -- which includes applications for home purchases and refinancings -- dropped slightly by 0.6 percent during the week ending Oct. 18, offset by a slowing demand in refinancings. Refinancing applications fell by 1.3 percent. The latest figures include part of the 16-day federal government shutdown, which had ended during the latter part of last week. The MBA said last week that the government shutdown had been hampering the mortgage market. Thirty-year fixed-rate mortgages fell 7 basis points to 4.39 percent last week, dropping to the lowest level since June, the MBA reports.
Posted on: Thu, 24 Oct 2013 12:29:26 +0000
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