MBA: New home purchase apps fall 8%

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Mortgage applications fell 4.3% on a seasonally-adjusted basis from one week earlier, according to the Mortgage Bankers’ Association’s Weekly Mortgage Applications Survey for the week ending.

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Mortgage applications for new home purchase were up 4.6% in February compared to a year earlier; and up 3% compared to January, the Mortgage Bankers Association reported. New home purchase apps.

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The new home sale metric is based on contract signings (vs closings for existing home sales). Keep in mind that 90% of all new home buyers use a mortgage for their purchase. Mortgage applications released Wednesday showed a 2% drop in purchase applications from the previous week. Recall, the previous week purchase apps were down 4%.

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The industry is in dire need of appraisers MBA: New home purchase mortgage apps rise 5% freddie mac: mortgage interest rates rose again last week U.S. long-term mortgage rates fell slightly this week, marking a third straight week of declines as a continued inducement to purchasers in the spring homebuying season. mortgage buyer Freddie Mac.