Mortgage Application Volume
by Osman Parvez
From Calculated Risk, noting recent mortgage application trends…
The Market Composite Index, a measure of mortgage loan application volume, was 553.3, an increase of 4.9 percent on a seasonally adjusted basis from 527.6 one week earlier. On an unadjusted basis, the Index increased 4.3 percent compared with the previous week but was down 24.9 percent compared with the same week one year earlier.
The seasonally-adjusted Purchase Index increased by 3.4 percent to 388.9 from 376.2 the previous week and the Refinance Index increased by 7.1 percent to 1518.1 from 1417.2 one week earlier.
Mortgage rates decreased:
The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.45 percent from 6.62 percent …
The average contract interest rate for one-year ARMs decreased to 5.96 percent from 6.18 percent …
Although Calculated Risk tends to be very bearish, it’s a solid resource for insightful analysis on housing and the economy. The post I’ve quoted above is worth visiting for the year over year analysis of purchase activity. Here’s the link.
Image: Calculated Risk
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Ready to buy or sell? Schedule an appointment or call 303.746.6896.
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As always, your referrals are deeply appreciated.
—
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
Mortgage Application Volume
by Osman Parvez
From Calculated Risk, noting recent mortgage application trends…
The Market Composite Index, a measure of mortgage loan application volume, was 553.3, an increase of 4.9 percent on a seasonally adjusted basis from 527.6 one week earlier. On an unadjusted basis, the Index increased 4.3 percent compared with the previous week but was down 24.9 percent compared with the same week one year earlier.
The seasonally-adjusted Purchase Index increased by 3.4 percent to 388.9 from 376.2 the previous week and the Refinance Index increased by 7.1 percent to 1518.1 from 1417.2 one week earlier.
Mortgage rates decreased:
The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.45 percent from 6.62 percent …
The average contract interest rate for one-year ARMs decreased to 5.96 percent from 6.18 percent …
Although Calculated Risk tends to be very bearish, it’s a solid resource for insightful analysis on housing and the economy. The post I’ve quoted above is worth visiting for the year over year analysis of purchase activity. Here’s the link.
Image: Calculated Risk
—-
Want to get blog updates via email? Click HERE.
Ready to buy or sell? Schedule an appointment or call 303.746.6896.
You can also like our Facebook page or follow us on Twitter.
As always, your referrals are deeply appreciated.
—
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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Call us at 303.746.6896
Your referrals are deeply appreciated.
