Mortgage Bankers Association finds decrease is linked to improved housing market, tight credit conditions.
The jury is still out on whether new regulations are slowing down mortgage lending. It could just be the weather.
Purchase mortgages are down 15% from MBA forecasts, but this winter's inclement weather is at least partly to blame.
Mortgage Bankers Association says its index showed uptick.
Mortgage applications rose during week ending 10/11, but applications for purchase money dropped, association said.
In South Florida, 69% of all home sales this summer were cash, with a statewide rate of 66% according to data from RealtyTrac.
Mortgage Bankers Association says 25% of home sales currently are cash deals.
Trade group says data show lending standards are tightening.
The U.S. housing finance market may be poised for a historic shift away from a long trend of primarily refinancing existing real estate loans to primarily funding new real estate purchases.
CUNA economist on panel of industry experts selected by Rep. Maxine Waters (D-Calif.) to discuss finance reform legislation.