The mortgage re -financing demand is drowned by 21 %, as interest rates have increased for 3 weeks

The rolling vessel caused the short mortgage rate to cause another swing in the request. After declining to the lowest level in three years two weeks ago, then prices again.

As a result, the total mortgage request volume decreased by 12.7 % last week compared to the previous week, according to the seasonal average index of the Mortgage Association. The motivation was mostly driven by withdrawal in re -financing.

Re -financing requests The house loan decreased by 21 % for the week and was 16 % higher than the same week one year ago. This, although the mortgage rates were 32 basis points above last week than the previous year. The re -financing share of the mortgage activity decreased to 55 % of the total requests from 60 % in the previous week.

The average interest rate in the mortgage contract increased for 30 years with identical loans balances, 806,500 dollars or less, to 6.46 % of 6.34 %, with points increasing to 0.61 of 0.57, including infection fees, for 20 % loans in the foreground.

“The mortgage rates rose to the highest levels in three weeks, as treasury revenues rose up in the recent economic data and stronger than expected. After the explosion in the activity, re -financing during the past month, this reflection in the mortgage prices led to a significant decrease in requests for re -financing, consistent with our view that the opportunities for re -financing this year will be short estimated.”

The re -financing activity has been withdrawn for all types of loans, including a 22 % decrease in traditional re -financing and a 27 % decrease in VA’s re -financing. He added that the average loan volume of depths decreased to 380100 dollars from 461300 dollars two weeks ago, “as these higher rates canceled the re -financing incentive for many borrowers who have large loans,” added.

Mortgage requests decreased to buy a 1 % house for a week and were 16 % higher than the same week. This is after three consecutive weeks of gains.

“The strength of the purchase market has also been affected by other factors such as the broader economic conditions, the health of the labor market and the housing stock,” he said.

Housing stocks decreased in August for the first time since the beginning of this year, according to a recent report issued by the National Association of Real Estate Bidgers. While homes are sitting on the market for a longer period now, while maintaining the offer higher than last year, more sellers began to delete their property. Other potential sellers choose to wait for a better market.

Mortgage rates did not move at all at the beginning of this week. The expectation was that the prices could move more decisively on Friday, when the monthly recruitment report was determined, but the government closure now has in a state of forgetfulness.