MBA Mortgage Applications rose 2.8%, for the week ending August 22nd, following the prior week’s +1.4% advance. Purchases were up +2.6% vs. -0.4% prior (-10.6% YoY) and Refinancing, reversed the prior week’s losses of -0.4%, posted +2.8% (-25.4% YoY). The average interest rate for a 30-Year conforming loan declined -1 bps to 4.28% vs. 4.29%. There is a $35 Billion 5-Year noteAuction at 10:00 AM (PDT). Treasuries are opening up this morning and the curve has bull flattened with 2s10s down -0.5 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
This information is provided solely for informational use and is not intended as a trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not liscensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, price, guidelines, fees, costs, terms and conditions are subject to change without notice.