Industry survey reveals number of overall requests for home loans has plunged 16.1% in past week.
August 13, 2003: 7:34 AM EDT
NEW YORK (Reuters) - The number of applications Americans filed for mortgage loans dropped last week to its lowest level in more than a year, although mortgage rates subsided from their recent spike, according to an industry survey.
The Mortgage Bankers Association of America said Wednesday its seasonally adjusted gauge of overall mortgage requests fell to 824.6 for the week ended Aug. 8, down 16.1 percent from the previous week's 983.2.
The group's weekly barometer of mortgage demand fell to its lowest level since 815.2 for the week of July 19, 2002.
The recent rise in mortgage rates has hit refinancing -- down 67.5 percent since its peak in May -- much harder than demand for loans to buy homes, down around 10 percent.
The group's index of demand for loans for home purchases fell to 409.6, down 10.3 percent from the prior week's 456.4.
Its seasonally adjusted gauge for loan applications to refinance decreased 20 percent to 3,238.4 from the previous week's 4,047.5. The weekly refinance index slid to its lowest level since the week of July 12, 2002, when it stood at 2,729.5.
Interest rates, excluding fees, on 30-year fixed-rate mortgages, the home loan held by most Americans, fell to 6 percent from the prior week's 6.37 percent.
O Clubeinvest.com informa que nenhuma da informação
aqui facultada deverá ser entendida como conselho ou recomendação
de qualquer tipo de transacção ou investimento.
