Minimal rates are maintaining home loan applications to arrive at a trade team states.
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Mortgages are a commodity that is hot cold weather as a result of home loan rates that stay at their cheapest amounts in months — as well as years.
The volume of loan applications remained strong, according to a trade group’s new report though borrowing softened a little bit last week.
Mortgage application amount still ‘elevated’
General home loan applications slipped 1.2% when you look at the week closing Jan. 17, the Mortgage Bankers Association states.
“Mortgage applications dipped somewhat a week ago after fourteen days of healthy increases, but despite having a small decrease, the full total rate of applications continues to be at an increased degree, ” Kan states.
Refinance applications dropped 2% but remained near their greatest degree since October, claims Joel Kan, the trade team’s vice president of forecasting.