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Mortgage Applications Slide as Rates Inch Up

Mortgage News > Mortgage Applications Slide as Rates Inch Up
Date: 06/19/2019    Mortgage Applications Slide as Rates Inch Up

After six straight weeks of decreases, 30-year fixed-rate mortgage rates turned around and inched up 0.2% to 4.14%, putting a damper on home loan applications, according to the Mortgage Bankers Association. Total mortgage applications fell 3.4% on a seasonally adjusted basis during the week ended June 14, 2019, with home purchase requests declining 4% and refinance applications also dropping 4% from the week before. The share of refinance mortgage activity still rose, however, climbing to 50.2% of all applications, up from 49.8% and the highest level since January 2018.

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