The weekly MBA mortgage application survey remained almost flat this week with applications increasing 1% overall and refinances increasing 2% from the previous week. Quicken Loans vice president Bill Banfield offers the following comments on the report.
“Mortgage applications barely moved the needle from the week prior, as consumers placed their focus on holiday purchases with the recent increase in rates. Look for this activity to remain fairly steady in the coming weeks, as some still look to lock in a rate before the Fed pulls back on bond purchases and higher guarantee fees on conventional loans get implemented by 2014.”
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