Mortgage application volume drops after rate hike

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The good news is that mortgage rates don’t track the Fed Funds rate – not perfectly, anyway. As a mortgage shopper, you need not fear a hike. Markets may have already priced that into today.

Total mortgage application volume fell 3.3 percent on a seasonally adjusted basis for the week from the previous week, according to the Mortgage Bankers Association. It is nearly 21 percent higher.

Mortgage Applications Take Steep Dive As Rates Increase. After increasing 5.5% the previous week (refinance apps down 3.0%, purchase apps up 19.0%), mortgage application volume plummeted 9.4% during the week ended Nov. 25, driven mainly by a huge drop in refinances stemming from higher mortgage rates, according to the Mortgage Bankers Association’s.

Very slight increase in mortgage application volume this week The refinance share of mortgage activity decreased again, falling to 44.9% of total applications from 45.6% the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 7.2.

Rates on home equity lines of credit, or HELOCs, will rise a quarter of a percentage point. Expect it to hit your wallet within 30 days, or by the second billing statement after the Fed’s rate hike.

Drop in mortgage rates hurts Impac, but may pay off later

Mortgage applications fell almost 9% last week, on an unadjusted basis, compared to the week prior as interest rates jumped to their highest level in a year, the mortgage bankers association (mba) reported on Wednesday.

Mortgage results improve at Wells Fargo, JPMorgan Chase Downsizing and servicing offset lower volume at Impac Mortgage As of June 30, 2016, the Company’s mortgage servicing portfolio increased to $6.6 billion, a 29% increase from March 31, 2016, which increased our retained MSRs to $54.7 million at June 30, 2016.Homebuilders fall to 10-month low on sales data, earnings miss Mortgage Servicing Fraud Documenting mortgage servicing fraud learn the truth behind the biggest unpunished heist in world history.

Immediate mortgage rate reaction to Fed meeting. Most U.S. mortgage loans up to $417,000 are packaged into bonds called Mortgage Backed Securities (MBS), and these bonds trade daily in global markets. Throughout each day, mortgage rates fall when MBS prices rise, and mortgage rates rise when MBS prices fall.

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Mortgage Applications Drop With Mortgage Rate Hike This week mortgage applications decreased 6.6% compared to last week as mortgage rates increased for both fixed and adjustable-rate mortgages after over a month of decreasing rates (Freddie Mac statistics ).

Mortgage applications fell almost 9% last week, on an unadjusted basis, compared to the week prior as interest rates jumped to their highest level in a year, the Mortgage Bankers Association (MBA) reported on Wednesday. On a seasonally adjusted basis, the total number of applications decreased 8.8%, according to the MBA’s Weekly Mortgage Applications Survey [.]

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