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Tag Archives: Mike Fratantoni

Fixed-Rate Mortgages Reach 20-Year High

After a slight break last week, Freddie Mac reports the fixed-rate mortgage inched closer toward the 7% mark, as recessionary concerns and housing affordability continue to drive down housing demand.

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Refi Volume Slips 86% Year-Over-Year

As fixed-rate mortgages continue to edge toward 7%, the MBA reports refinance volume has dropped off nearly 90% from last year’s totals, as both refinancing and home purchase apps declined and fell further behind last year’s record levels.

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Purchase Apps Hit Month-Long Slide

With mortgage rates spiking upward, mortgage application volume took another hit, falling for the fourth consecutive week, as markets continued to re-assess the prospects for the economy and the path of monetary policy.

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