Mortgage Apps Pull Back for the First Time in a Month

Posted To: MND NewsWire

Mortgage application volume declined for the first time in four weeks during the week ended July 24. The Mortgage Bankers Association (MBA) said is Market Composite Index, a measure of that volume, was down 0.8 percent on a seasonally adjusted basis from the prior week and down 1 percent before adjustment. The Refinance Index dipped 0.4 percent from the previous week although it was still 121 percent higher than the same week in 2019 and made up 65.1 percent of total applications. The share was 64.8 percent the previous week. The seasonally adjusted Purchase Index ticked down 2 percent from one week earlier. The unadjusted index 1 percent lower week-over-week but up 21 percent on an annual basis. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed ” Mortgage rates remained near record lows…(read more)

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