Residential Mortgage Applications Dip in Late May in U.S.

WORLD PROPERTY JOURNAL | June 03, 2019

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending May 24, 2019, U.S. mortgage applications decreased 3.3 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4 percent compared with the previous week. The Refinance Index decreased 6 percent from the previous week. The seasonally adjusted Purchase Index decreased 1 percent from one week earlier. The unadjusted Purchase Index decreased 3 percent compared with the previous week and was 7 percent higher than the same week one year ago. "Concerns over European economic growth and ongoing uncertainty about a trade war with China were some of the main factors that kept mortgage rates low last week. Even with lower rates on three of the five surveyed loan types, refinance activity fell 6 percent, essentially reversing an 8 percent increase the week before," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "Purchase applications decreased for the third straight week, but remained more than 7 percent higher than a year ago. It is possible that the trade dispute is causing potential homeowners to hold off on buying, with the fear that further escalation - or the lack of resolution - may have adverse impacts on the economy and housing market."

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REAL ESTATE TECHNOLOGY

Faropoint Sells Portfolio of 109 Institutional-Quality Last-Mile Warehouses For $481M

Faropoint | July 06, 2022

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REAL ESTATE INVESTMENT

Echo Fine Properties Announces Second Largest Sale Ever in Gulf Stream

Echo Fine Properties | June 06, 2022

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BUYING/SELLING

SWBC Real Estate Sells Royalton Portfolio for $350M

SWBC | June 22, 2022

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BROKERAGE

The Real Brokerage Surpasses 5,000 Agent Milestone

The Real Brokerage Inc. | June 18, 2022

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