Colossus Ventures India

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While the rates for 30-year fixed mortgages rose from 3.15% to 3.18%, mortgage applications have fallen on a seasonally adjusted week-over-week basis by 4.2%.On the other hand, the numbers dropped by 4% on an unadjusted basis.The refinance index too saw a considerable dip of 7% compared to the previous week, and about 9% compared to the same week a year ago.While the seasonally adjusted index of purchase went up 2% compared to the previous week, the unadjusted index for purchase rose by 1% and dropped 4% on a weekly and yearly basis respectively.Joel Kan, The MBA Associate Vice President of Economic and Industry Forecasting said in a recent release that there is robust demand in the country, however, what holds the homebuyers back is the rapidly increasing home prices and the lack of homes for sale.Reference Source: Boston Agent Magazinehttps://www.compareclosing.com/mortgagenews/mortgage-applications-have-dropped-4/

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