Mortgage Applications Fell 12.8% Last Week, Extending Decline
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Mortgage insurers are on watch Wednesday following reports of another dip in applications last week.
The Mortgage Bankers Association (MBA) said that applications fell 12.8 percent on a seasonally-adjusted basis for the week ending November 29th. Numbers included adjustments for the Thanksgiving holiday.
It is the fifth-straight week of declines for the measure, putting it back to the lowest levels seen since last September.
Rates on 30-year mortgages rose 3 basis points to 4.51 percent last week, MBA data showed. The refinancing index fell 17.5 percent and the purchase index slumped 4.1 percent.
Companies like MBIA, Inc. (NYSE: MBI), Assured Guaranty (NYSE: AGO), Ambac Financial (Nasdaq: AMBC), and MGIC Investment (NYSE: MTG) could be active.
The Mortgage Bankers Association (MBA) said that applications fell 12.8 percent on a seasonally-adjusted basis for the week ending November 29th. Numbers included adjustments for the Thanksgiving holiday.
It is the fifth-straight week of declines for the measure, putting it back to the lowest levels seen since last September.
Rates on 30-year mortgages rose 3 basis points to 4.51 percent last week, MBA data showed. The refinancing index fell 17.5 percent and the purchase index slumped 4.1 percent.
Companies like MBIA, Inc. (NYSE: MBI), Assured Guaranty (NYSE: AGO), Ambac Financial (Nasdaq: AMBC), and MGIC Investment (NYSE: MTG) could be active.
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