Tuesday, 22 June 2021 | The Latest Buzz for the Appraisal Industry

Mortgage Applications Decreased Despite Dip in Rates

Mortgage application volume fell 2.5% on an adjusted basis during the week ended April 23, despite a slight drop in mortgage interest rates, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey.

Applications for refinances fell 1% compared with the previous week while applications for purchases fell 5%.

Year-over-year, applications for refinances were down 18% while applications for purchases were up 34%.

The average rate for a 30-year fixed-rate mortgage based on closings

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