Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
Mortgage Applications Drop, But New Home Sales Rise
WASHINGTON (7/25/13)--Although U.S. mortgage applications decreased last week, new home sales in June rose 8.3% nationally. Sales increased to a five-year high--bolstering an important sector that is propelling the economic recovery (The Wall Street Journal July 24). 
 
Sales increased to a seasonally adjusted rate of 497,000--the highest level since May 2008--the Commerce Department said Wednesday. However, rising mortgage rates and home prices could slow sales in the coming months, the Journal said.
 
Mortgage applications decreased 1.2% from a week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 19.

The Market Composite Index, a measure of mortgage loan application volume, declined 1.2% seasonally adjusted from one week earlier. On an unadjusted basis, the index dropped 1% from the previous week. The Refinance Index fell 1%, driven by a 12% drop in the government refinance index while the conventional refinance index rose by 2%.

The refinance index is at its lowest level since July 2011. The adjustable-rate mortgage share of activity decreased to 7% of total applications. To see the MBA release, use the link.
RSS





print
News Now LiveWire
#Maine #creditunion membership growth continues record pace http://t.co/yFRur4TQ0x
1 hour ago
.@TheNCUA closes N.Dade Community Development FCU,Miami Gardens, Fla. determining CU violated some charter provisions,bylaws & fed. rules.
2 hours ago
Why a #creditunion can be a good fit for #smallbiz http://t.co/l7Df9b8vQZ @fundbox
5 hours ago
Who's most adept at saving these days? The middle class, says @Bankrate http://t.co/zVi7typdVU
5 hours ago
.@OregonCCU donates $20K in Sprint program monies to @CMNHospitals @CU4Kids via @NWCUA http://t.co/0wTAH5NTNI
6 hours ago