The AFS Title Search Index fell 1.4% to 205.4 for the week ended June 26 from 208.3 for the previous week, according to Advance Factor Service.[Click here to see the chart.] The index averaged 211.1 over the previous four weeks, up 1.4 points from the prior week's four-week moving average. A year ago, the index stood at 144.3, 70.2% of the current level. "With 30-year mortgage rates below 7% for the second straight week, the AFSTSX has not moved appreciably higher," said AFS manager Paul Descloux. "However, the recent stability of the index over the past three and a half months at elevated levels, combined with the continued affordability of credit, portends that mortgage prepayments can remain rapid."
Processing Content
