Posted by OR on 10/19/11 10:58am
Msg #400937

Mortgage applications from Rate Lock

Early this morning the weekly MBA mortgage applications; the composite index declined 14.9%, purchase applications down 8.8% while re-finances declined 16.6%. Higher interest rates dropped the re-finance markets, purchases remain soft. There is an anomaly though, the week included Columbus Day, the few that are optimistic about the housing sector are making a lot out of the holiday, we don't hold much to that. Any even small increase in mortgage rates shuts of the flow, mortgage rates and treasuries were higher last week.

Reply by ME/NJ on 10/19/11 1:38pm
Msg #400968

A Dah.. reason I am busy, rate locks expire

Going nuts past two weeks, next week only 3 on the books but it's only Wednesday.

Reply by topflyt on 10/19/11 2:23pm
Msg #400978

Re: A Dah.. reason I am busy, rate locks expire

But rates are supposed to steady through next year.

Reply by ME/NJ on 10/19/11 6:29pm
Msg #401008

Will see, rate went from all time low and up .25% when news

got out, right now I take things month to month and see what happens. Need to expand incase on area of service slacks off.