Volume of mortgage applications is tepid

The Mortgage Bankers Association (MBA)reported today that loan application volume slumped 1.2 percent on a seasonally adjusted basis the week of Feb. 5 from one week earlier.   Unadjusted, activity increased 0.6 percent.

Refinancing applications went up 1.4 percent and purchases fell 7.0 percent seasonally adjusted.  Unadjusted purchase volume decreased 1.1 percent; it was 7.5 percent lower than the same week one year ago.

The refinance share of mortgage activity grew to 69.7 percent of total applications from 69.2 percent the previous week, and the adjustable-rate mortgage (ARM) share was unchanged at 4.5 percent.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

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NAR ethics code now includes sexual orientation

The late George Segal created this sculpture, installed in Sheridan Square, Greenwich Village. A tea party, it is not. Wallyg photo.

The National Association of Realtors (NAR) added sexual orientation to its equal opportunity policy at its recent annual governance meeting.

The Board of Directors passed the measure unanimously, according to Realty Times.

The organization’s Code of Ethics generally has reflected the Fair Housing Act, saying that its members “shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, or national origin.” Continue reading