Mr Cooper Group Inc (COOP)

[t1215s]

Good morning people , Mortgage applications in the US fell 0.8% in the week ending September 8th, 2023, following a 2.9% drop in the previous period, and hitting a new low since December 1996, data from the Mortgage Bankers Association data showed. Applications to refinance a home loan went down 5.4% while those to buy a home rose 1.3%. Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) edged up by 6bps to 7.27%, getting close again to high levels not seen since December 2000. “Given how high rates are right now, there continues to be minimal refinance activity and a reduced incentive for homeowners to sell and buy a new home at a higher rate”, said Joel Kan, an MBA economist. source: Mortgage Bankers Association of America. ( site info inserted below)

https://tradingeconomics.com/united-states/mortgage-applications

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