US Mortgage Applications Decrease By 12% As Rates Increase
This week, according to Freddie Mac, the amount of mortgage applications in the US decreased 12% compared to last week. This decrease also reduced the proportion of refinance mortgages to 81% compared to 82% of the total mortgage applications last week. Despite this decrease in US mortgage applications, the proportion of people applying for adjustable-rate [...]
This week, according to Freddie Mac, the amount of mortgage applications in the US decreased 12% compared to last week. This decrease also reduced the proportion of refinance mortgages to 81% compared to 82% of the total mortgage applications last week. Despite this decrease in US mortgage applications, the proportion of people applying for adjustable-rate mortgages increased this week to 4% of the total applications.
This decrease might have something to do with the slight increase we’ve … [visit DailyMarkets.com to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards