Refinance volumes got a boost in July as rates moderated to a palatable level for homeowners looking to save. Optimal Blue’s July 2024 Market Advantage mortgage data report showed refinance demand rising to its highest level since September 2022. Lower interest rates also led to increased purchase activity which, combined with the refi boom, resulted…
Mortgage applications slipped again last week as purchase activity fell to its lowest level since 1995. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – declined by 1.3%, down from the week prior’s 5.4% increase. Adjusted purchase applications sank by 2%, while the…
Mortgage applications increased again last week as rates cooled, though constrained inventory kept purchase activity down. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – increased by 1.1%, improving slightly after the week prior’s 0.9% bump. Adjusted purchase applications fell by 1%, but…
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