Purchase, Refi Apps Both up Ahead of Holiday Season

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Posted To: MND NewsWire

There was, as expected only a minimal immediate impact on either mortgage rates or mortgage application volume in the few days following the Federal Open Market Committee's (FOMC's) long anticipated action hiking the fed fund rate. Rates were up slightly for fixed rate products but applications for both purchases and refinanced increased from the previous week. The Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of application volume, rose 7.3 percent on a seasonally adjusted basis during the week ended December 18 compared to the volume during the week ended December 11. On an unadjusted basis the index rose 7.0 percent. There were gains for both refinancing and purchase applications with the former rising 11 percent and the latter up 4 percent from the previous week...(read more)

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Source: http://www.mortgagenewsdaily.com/12232015_application_volume.asp

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