Weekly mortgage applications drop 3.3%, as spring housing season draws to a close – Real Estate Technique

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Total mortgage application volume fell 3.3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 15% higher than the same week one year ago, when interest rates were higher.

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City-Data Forum > General Forums > Real Estate: When does the housing market start to pick up in the new year? (RE market, sales). It seems it takes 2-3 months to close a deal and folks want to get established in the neighbourhood before the school year.. When does the "spring" housing.

Despite the rate drop, mortgage applications to refinance a home loan fell 7% for the week, although they were 88% higher than the same week one year ago, when interest rates were 72 basis points.

Lower mortgage rates aren’t enticing homebuyers much, as the spring housing season draws to a close. Total mortgage application volume fell 3.3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 15% higher than the same week one year ago, when interest rates were higher. mortgage refinance volume fell 6% for the week but was markedly higher than a year ago, up 29%.

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