Mortgage application activity was largely flat for the week ending Oct. 8, despite mortgage rates reaching their highest level since June.
That’s according to the latest mortgage application survey from the Mortgage Bankers Association, which said applications overall increased just 0.2% from the prior week.
“An increase in home purchase applications offset a slight decline in refinances,” said Joel Kan, the MBA’s vice president of economic and industry forecasting. “The increase in purchase applications was welcome news, but was primarily driven by a 2% gain in conventional purchase applications, which kept the average loan size details ⇒
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