All posts tagged: Refinance Rates

It’s No Surprise Mortgage Application Volume Is At A 25 Year Low

It is no surprise that mortgage application rates have dramatically decreased, reacting to mortgage interest rates that have reached a 20 year high.  According to an article MortgageNewsDaily.com refinance mortgage applications are “86 percent lower than the same week in 2021”. Jann Swanson provides related statistics in her article:

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Notary Near YouIt’s No Surprise Mortgage Application Volume Is At A 25 Year Low
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Refinance Index is 50 Percent Lower than Same Week in January Last Year

According to the Mortgage Bankers Association (MBA) Market Composite Index, the Refinance Index is 50 percent lower compared to the same week one year ago, in January 2021. During the same week there was a small uptick over last year in purchase mortgage activity.

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Notary Near YouRefinance Index is 50 Percent Lower than Same Week in January Last Year
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Refi Applications Hit Seven-Year Highs

According to a February 12, 2020 article, written by Jann Swanson for Mortgage News Daily, “Refinancing was up for the third straight week, adding 5 percent to that index which is now 207 percent higher than on an annual basis. The share of applications that were for refinancing grew to 65.5 percent; 1 percentage point higher than the prior week.”

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Notary Near YouRefi Applications Hit Seven-Year Highs
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