Mortgage applications tumble 12.9% as refinancing activity falls 15.3%

“Mortgage rates dropped again for most loan types, which led to an increase in refinance activity, partly driven by a 9% jump in VA applications.

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Variable operating expenses decreased to 9.2% of revenue (.5 million) from 12.9% of revenue ($13.9 million. The Company’s North American business is seasonal. The lowest activity is typically.

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As mortgage rates fell to the lowest level since September 2017, Mortgage applications surge on refinances as rates hit 21-month low. Americans are scrambling to refinance mortgages as borrowing costs tumble.

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4 tips for real estate agents to crush it on Snapchat Mortgage applications tumble 12.9% as refinancing activity falls 15.3% The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 2.5 percent in the week ended august 23, after sliding 4.

Volume was 36% higher compared than a year earlier, thanks to stronger refinance activity. Mortgage applications to purchase a home fell 4%.

Not surprisingly, mortgage applications jumped. Applications for a new mortgage rose by 3.3% for the week ending September 1. An index of refinancing activity increased 5% from the prior week.