Soft mortgage application numbers revised higher

Last week's 7% decline in mortgage applications was revised higher to a fall of just 2.8%.

The refinancing index fell 2.3% this week, and its 7.9% decline last week was revised to a decline of just 3.9%.

The purchase index slipped 0.5% this week, and its 5.2% decline last week was revised to a 0.7% drop.

The 30-year fixed mortgage rate shot higher by 12 basis points this week to 4.44%.

Comments (1)
  • investingInvestor
    , contributor
    Comments (2464) | Send Message
    Residential real estate buyers are often paying cash. mREITs and foreign cash are buying up distressed properties and turning them into rentals. This business model compares favorably to other investments as long as US Fed continues full QE.


    Mortgages put private citizens at a significant disadvantage when competing against buyers with cash.
    13 Nov 2013, 10:34 AM Reply Like
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