Mortgage Bankers Association (MBA)

Mortgage volume down modestly in 2023

The Fed’s primary goal is to reduce inflation, although this may “bring some pain to households and businesses.” 

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.