Sunday, 17 October 2021 | The Latest Buzz for the Appraisal Industry

Mortgage Applications Increased on Lower Rates During Week Ended May 7

Mortgage application volume increased 2.1% on a seasonally adjusted basis during the week ended May 7, as mortgage rates fell, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey

Applications for refinances increased 3% compared with the previous week, while applications for purchases were up 1%.

Year-over-year, applications for refinances were down 12% while applications for purchases were up 13%.

The average rate for a 30-year fixed-rate mortgage with conforming loan balance was

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