Main menu

Weekly mortgage applications drop as homebuyers drop out

Weekly mortgage applications drop as homebuyers drop out

"Strong inflation was overshadowed by ongoing trade tensions between the U.S. and China, along with concerns over Turkey's currency situation. This helped push Treasury rates down by 3 basis points last week," said Joel Kan, MBA associate vice president of economic and industry forecasting.

Applications to refinance a home loan usually get a boost from a drop in interest rates, but that was not the case last week. Refinance volume was flat for the week and 36 percent lower compared with the same week one year ago.

Comments 0