If you need assistance, please call 407-288-5182

Mortgage Application Volume Recovers its Momentum

Friday, July 10, 2020   /   by Erik Bjorklund

Mortgage Application Volume Recovers its Momentum

Mortgage application
volume bounced back into positive territory last week, even though banks and
many businesses were closed on Friday for the Independence Day Holiday. The
Mortgage Bankers Association (MBA) said its Market Composite Index, a measure
of that volume, was 2.2 percent higher on a seasonally adjusted basis, which
included an adjustment for the holiday, from the previous week, although volume
was down 8 percent before adjustment. The Refinance
Index rose 0.4 percent
week-over-week and was 111 percent higher than the same
week one year ago. The refinance share of mortgage activity decreased to 60.1
percent of total applications from 61.2 percent the previous week. The seasonally
adjusted Purchase Index gained 5 percent week-over-week while declining by the
same amount before adjustment. It was up 33 percent compared to the same week
in 2019.


 

...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Fidelity Home Group | Mortgage News | Mortgage Rates
eXp Realty | The Fuentes Team
Tony Fuentes
1999 W. Colonial Dr
Orlando, FL 32804
407-288-5182

© 2020 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.10/19/2020 6:47 PM CST
This site powered by CINC: www.cincpro.com