U.S. Mortgage Applications Fall in First Week After Fed’s Tapering Non-event
U.S. Mortgage Applications Fall in First Week After Fed’s Tapering Non-event (Reuters)
Applications for refinancing and new home purchases fell 0.4 percent for the week ending Sept. 27, according to the Mortgage Bankers Association. While that loss may not seem like a significant number, when compared to the 5.5 percent increase in applications from the week prior, it represents a considerable change, of course, for the housing industry. The cause? The week ending Sept. 27 was the first full week of figures available after the Federal Reserve decided not to taper its stimulus plan. Where the market for applications goes from here is anybody’s guess.