MBA Mortgage Applications fell -3.3% for the week ending December 12th after rising +7.3% in the week prior (-3.7% YoY). Purchases declined -6.9% vs. 1.3% prior (-5.3% YoY), Refinancing came in flat following the prior week’s +13.2% advance, and the average interest rate for a 30-Year conventional conforming loan fell -5 bps to 4.06% (4.62% a year ago). The Consumer Price Index declined by -0.3 % in November with the gasoline index posting its sharpest decline since December of 2008. Treasuries are coming off their lows this morning in reaction to the tame CPI print and the curve has bear steepened with 2s10s up 0.9 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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