Mortgage Bankers Association (MBA)

Affordability conditions improved modestly in most of the country in July.

Remain at 22-year low as refinancing applications continue to decline.

Only the fourth time in eight years IMBs show net production losses.

MBA economist says purchase activity may pick up if mortgage rates continue to move lower.

Drop driven by lenders streamlining offerings; jumbo credit drops 13.4%.

Applications increased 1.2% as mortgage rates fell the most since 2020.