Although many lenders find themselves swamped with new business, mortgage applications fell sequentially by 4.5% for the week ending Aug. 10.
Moreover, on Wednesday
According to new figures compiled by the Mortgage Bankers Association, refinancings–not surprisingly–remained strong, accounting for about 81% of all new business, a slight decline from the week prior.
MBA says its survey covers 75% of all retail residential applications. (According to figures compiled by National Mortgage News and the Quarterly Data Report, Wells Fargo alone accounts for almost 26% of all retail production nationwide.)
Thirty-year conventional FRMs are still relatively cheap at 3.53% with a fee of 49 basis points, MBA found.
Although many lenders find themselves swamped with new business, mortgage applications fell sequentially by 4.5% for the week ending August 10.
Moreover, on Wednesday the yield on the benchmark 10-year Treasury bond was on the rise again–at 1.77% compared to just over 1.4% a few weeks ago.
According to new figures compiled by the Mortgage Bankers Association, refinancings–not surprisingly–remained strong, accounting for about 81% of all new business, a slight decline from the week prior.
MBA says its survey covers 75% of all retail residential applications. (According to figures compiled by National Mortgage News and the Quarterly Data Report, Wells Fargo alone accounts for almost 26% of all retail production nationwide.)
Thirty-year conventional FRMs are still relatively cheap at 3.53% with a fee of 49 basis points, MBA found.
