MBA Mortgage Applications, for the week ending August 15th, rose +1.4% vs. -2.7% prior (-23.5 YoY). Purchases slipped -0.4% vs. -1.0% prior (-10.9 YoY) and Refinancing jumped +2.7% vs. -4.0% prior (-31.4% YoY). The average interest rate for a 30-Year conforming loan fell -6 bps to 4.29% vs. 4.35% prior. At 11:00 AM (PDT)the Fed will release the minutes from the July 29th-30th meeting. Treasuries are continuing the sell-off for a second day this morning and the curve has bear flattened with 2s10s down -1.8 bps.
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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