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

Purchase Mortgage Volume Continues to Weaken; Rates Moving Back Up

After a strong showing during the week ended July 9, mortgage application volume pulled back. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of that volume, decreased 4.0 percent on a seasonally adjusted basis during the week ended July 16 although it was 20 percent higher than the prior week before adjustment. The Refinance Index decreased 3 percent from the previous week and was 18 percent lower than the same week one year

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