Daenin Arnee
- MBA Mortgage Applications
- Composite Index: +0.8% vs. +0.9% a week ago.
- Purchase Index: +1.2% vs. +1.6% in the previous week.
- Refinance Index: -0.1% vs. -0.4% in prior week.
- 30-year fixed-rate mortgages came in at 6.93%, compared to 6.94% last week.
- “Lower rates, however, were still not enough to entice refinance borrowers back, as most continue to hold mortgages with considerably lower rates,” Mortgage Bankers Association’s economist, Joel Kan, said.