Estimated reading time: 0 minutes, 28 seconds

Mortgage Demand Is Down 23% from a Year Ago: MBA

According to the Mortgage Brokers Association’s seasonally adjusted index, mortgage loan applications fell 23% year-over-year for the week ending September 2. So reports USA Today.

MBASpecifically, refinancing applications were down 83% from the same period a year earlier and down 1% week from the prior week, per the MBA.

But despite rising interest rates, all signs were not gloomy for mortgage lenders. MBA economist Mike Fratantoni said in a statement that “the robust job market and an increase in housing inventories should lead to an eventual increase in purchase activity.”

Read the full article from USA Today.

Read 668 times
Rate this item
(0 votes)

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.