30-year fixed-rate mortgage decrease to lowest level since 2013
By Kelsey Ramírez | HousingWire
If last week proved that the Brexit impact is real when it comes to mortgage applications, this week’s report just confirms it.
Mortgage applications increased by 7.2% from last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 8, 2016. This week’s results included an adjustment for the Fourth of July holiday.
On an unadjusted basis, mortgage apps decreased 14% from last week. The Refinance Index increased 11% from last week, and the seasonally adjusted Purchas Index remained unchanged. The unadjusted Purchase Index decreased 20% from last week, and 5% from last year. Last year, the Fourth of July fell on the previous week.
