Mortgage hunters were not particularly impressed with the latest drop in interest rates. Mortgage application volume dropped 0.6% last week from the previous week, according to the Mortgage Bankers Association.
Mortgage application volume dropped 0.6% last week from the previous week, according to the Mortgage Bankers Association.
Mortgage application volume dropped 0.6% last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 10% higher than a year ago, when interest rates were higher. Mortgage refinance volume, which is most sensitive to rates, fell 1% for the week but was nearly 17% higher annually. Last year, refinance volume fell sharply on higher rates.
"It's worth watching if ongoing global trade disputes lead to increased anxiety about the economy, which could cause some potential homebuyers to put off their home search until the uncertainty is resolved," said Joel Kan, an MBA economist.
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