Mortgage applications

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.

Applications for mortgages to buy a home or refinance both fell for a second week, marking a swift reversal of what had been a hopeful sign of a revival in the US housing market.

The contract rate on a 30-year mortgage climbed 12 basis points to 6.46% in the week ended Sept. 26, according to Mortgage Bankers Association data released Wednesday.

Connecticut banking officials cited a series of alleged violations, including false and misleading statements and failure to maintain complete loan files.

The recent decline in mortgage rates and rising incomes helped improve buyer affordability, but record home prices remain formidable obstacles.

Mortgage applications increased 0.6% last week after jumping 29.7% the week prior, according to the Mortgage Bankers Association.

New-home loan activity rose 1% in August year over year, but applications fell 6% from July.

The contract rate on a 30-year mortgage fell 15 basis points to 6.49% in the week ended Sept. 5, according to Mortgage Bankers Association data released Wednesday.

A pickup in refinances was offset by the first pullback in purchases in four weeks in the run-up to Labor Day, according to the Mortgage Bankers Association.

Nonbank lenders saw production income surge, returning to the black for the first time in three quarters, according to the Mortgage Bankers Association.