Mortgage Activity Slows in Latest Application Report Despite the Ease of Securing FHA Loans

Mortgage Activity Slows in Latest Application Report Despite the Ease of Securing FHA Loans

This morning the Mortgage Bankers Association (MBA), in its Weekly Mortgage Applications Survey for the week ending July 18, announced that mortgage loan application volume dropped 6.2 when compared to the week prior. The number of people applying to refinance their existing mortgage dropped, as did the number of people applying for a mortgage to purchase a home. FHA loans, which for months have been the star of the MBA report posting large week to week gains, also saw a pull-back of 7.7 .

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Mortgage Rates Lower on Jumbo Loans for People in 3,000 U.S. Counties

Mortgage Rates Lower on Jumbo Loans for People in 3,000 U.S. Counties

Congress has lifted the conforming loan limits in thousands of counties across the country. The government is allowing mortgage giants Fannie Mae and Freddie Mac to buy more — and larger – loans. And the FHA has rolled out its jumbo loan. So what does it all mean for you? Well, if you’re a homeowner, or even thinking about becoming one, you may just find it’s easier to get approved for a loan.

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