Monday, 2 August 2021 | The Latest Buzz for the Appraisal Industry

Mortgage Applications Dropped 4 Percent Last Week

Mortgage application volume decreased 4.0% on an adjusted basis during the week ended July 16, as the average rate for a 30-year increased to 3.11%, up from 3.09%, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey.

The previous week’s results included an adjustment for the Fourth of July holiday.

Applications for refinances decreased 3% compared with the previous week while applications for purchases decreased 6%.

Year over year, applications for refinances were

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