Mortgage applications fall
Mortgage application volume fell 14 percent during the week ending July 25, the Mortgage Bankers Association said Wednesday, even as interest rates on fixed-rate mortgages retreated from sharp increases a week earlier.
The traditional summer lull, buyer concern over the state of the economy and further potential house price falls saw mortgage activity drop 12% in August 2010 compared to July 2010, with purchase mortgage applications falling by 10.8% and remortgage applications dropping by 15.3%.