A new low for mortgage rates wasn’t enough to stimulate new loan activity. But jumbo business managed a gain despite continued deterioration in the premium for jumbo financing. Record rates are set to rise in the next report. Mortgage loan originators were less busy this past week, pulling 3 percent fewer pricing inquiries than they did last week. The decline left the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the week ended June 22 at 223 — the same as it was in the week ended June 24, 2011. Overall activity was in line with refinance inquiries, which fell 3 percent over the past seven days. But refinance volume was more than a third better than the same week last year.
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