Weekly mortgage applications fall sharply over holidays

mortgage apps

By Diana mortgage appsOlick | CNBC

The holiday season is historically slow in the mortgage business, but this time around it was particularly quiet.

For the week ending January 2, 2015, total mortgage application volume was down 9.1 percent from two weeks earlier, on a seasonally adjusted basis, according to the Mortgage Bankers Association (MBA). The reading included additional adjustments for both New Year’s Day and Christmas Day, when banks were closed.

Applications to refinance existing mortgages decreased 12 percent from two weeks ago, according to the MBA, while mortgage applications to purchase a home fell 5 percent. December is the slowest month of the year in the housing market, but there is more weighing on sales than just a winter chill.

Continued:

Share this!

Additional Articles

PRTA suspends operations

(Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County who have worked to bring new transportation infrastructure to the

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.