Mortgage application volume slows as summer ends

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He expects the growth will slow down to less. uncertain so the transaction volume in June will shrink [further],” said Kenneth Chiu, senior regional sales director of Taikoo Shing at Centaline. The.

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On an unadjusted basis, volume decreased 7% compared with the previous week. It was the largest drop in weekly volume since the holiday season. Refinance volume also fell 11% from the previous week. As a result, the refinance share of mortgage activity decreased to 58% of total applications, down from 61% the previous week.

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The average number of mortgage applications slid 2.1% on a seasonally adjusted basis as interest rates grew from the prior week, the Mortgage Bankers Association said Wednesday. Applications.

So both of those had an impact on mortgage volumes in this part of the country but overall no doubt that there was a decline in activity related to rising rates and probably a little slow..