MBA Mortgage Applications picked up in the July 4th week rising +1.9% following three consecutive weeks of decline. Purchases jumped +3.7% vs. -0.7% prior and refinancing edged up +0.4% vs. +0.1% prior. The average rate for a 30-Year conforming mortgage increased +4 bps to 4.32%, in line with the 4-week average. At 11:00 AM (PDT)the Fed will release the Minutes from the June 17-18th FOMC meeting. The curve is opening flat to yesterday’s close.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
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