Mortgage application volume fell last week, even accounting for the federal holiday, as certain interest rates jumped up a bit in the same period.
Mortgage application volume in the second week of the year jumped, led by new mortgage applications, a healthy sign for housing and buyer interest.
While mortgage rates have remained low in recent years, mortgage application volume rose last week as rates hit a new low, resulting from uncertainty over the fiscal cliff, according to the MBA.
Mortgage application volume rose last week, marking a silver lining in the housing market as the sector begins its long march to recovery.
Even adjusting for the Thanksgiving holiday, mortgage application volume fell, and the goverment share of purchase applications fell to its lowest share since early 2009.
As reports roll in that the FHA's reserve funds are depleted, analysts say a bailout is coming, while HUD and FHA says that it simply is not so.
As the FHA reserves are depleted with a growing number of mortgages delinquent or in foreclosure, a bailout could spell trouble for the recovery of the housing market.
After weeks of sliding, the Mortgage Bankers Association is reporting a small surge in mortgage application volume, noting the post-Superstorm Sandy decline in recent weeks.
Mortgage rates remain at a historic low, and while they rose slightly for the week, they are down considerably compared to just a year ago, as housing struggles to find its footing after a rough tumble.
The Mortgage Banker's Association points to Sandy as the reason for a 5.0 percent slide in mortgage application volume.
Despite continued low interest rates, the Mortgage Bankers Association is reporting a weekly reduction in application volume, as they predicted would happen.
Freddie Mac reports relatively unchanged mortgage rates for the week, forecasting a continuation of low rates for some time to come.
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