REALTORMag
Mortgage application volume dropped sharply over the holidays, despite a drop in mortgage rates at the end of the year. Loan applications fell 12 percent for the week ending Dec. 30, 2016, on a seasonally adjusted basis compared to two weeks earlier, the Mortgage Bankers Association reported Wednesday. (The MBA did not report weekly volume last week.)
“As mortgage rates continued their upward climb reaching the highest levels in more than two years, overall application volume fell even more than the holiday slowdown would suggest,” says Michael Fratantoni, the MBA’s chief economist.
