Slight Rate Drop Drives Mortgage Application Activity Upward After Weeks of Declines

While mortgage rates remain elevated, a slight retreat this past week drove home-purchase application activity up for the first time in several weeks.  The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases and refinances—shows mortgage application activity increasing this week 3.6% on a seasonally…

The post Slight Rate Drop Drives Mortgage Application Activity Upward After Weeks of Declines appeared first on RISMedia.

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