Mortgage Applications Fall To 22-Year Low
MBA says applications decreased nearly 2% from last week, the fourth straight weekly decline.
MBA says applications decreased nearly 2% from last week, the fourth straight weekly decline.
The MBA’s Market Composite Index decreased 6.3% on a seasonally adjusted basis from last week’s data.
Based on data from the Builder Application Survey, new single-family home sales were at a seasonally adjusted annual rate of 620,000 units in June.
In latest weekly survey, applications decreased 1.7% from one week earlier.
Rates fell for second-straight week, but purchase applications hurt by low inventory and affordability challenges.
On an unadjusted basis, the Market Composite Index decreased 20%.
Both the Refinance and Purchase indices increased from a week earlier, but remain significantly lower as compared with last year.