MBA Mortgage Applications fell -4.1% in the week ending September 19th following a +7.9% gain the week prior. Purchases edged down -0.3% vs. +4.8% prior (-15.6% YoY) and Refinancing slipped -7.0% vs. +10.3% prior (-31.3% YoY). The average interest rate for a 30-Year conforming loan rose +3 bps to 4.39%. New Home Sales for July posted lower than expected coming in at 412K, and for August expectations are for an advance to 430K (+4.4% MoM). Treasuries are holding on to yesterday’s 2:00 PM (PDT) close levels and the curve has slightly bear steepened with 2s10s up +0.7 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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