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Mortgage application volume was lower over the last week, continuing the up-one-week, down-the-next pattern it has displayed since late June. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan application volume, dropped 3.9 percent on a seasonally adjusted basis during the week ended August 13 and was 4 percent lower on an unadjusted basis. Most of the downturn was on the refinancing side of originations. The Refinance Index decreased 5 percent from the previous week and was 8 percent lower than the same week one year ago. The refinance share of mortgage activity accounted to 67.3 percent of total applications, down from 68.0 percent the previous week. The seasonally adjusted Purchase Index decreased 1 percent from one week earlier and 2 percent
Rob Chrisman
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So you say that you never learn anything by reading this Commentary? How about Wile E. Coyote's middle name? His first name is an obvious pun on the word "wily." His middle initial, "E", is said to stand for "Ethelbert" in one issue of Looney Tunes &... (read more)
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Housing News
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Mortgage application volume was lower over the last week, continuing the up-one-week, down-the-next pattern it has displayed since late June. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan applicati... (read more)
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Housing News
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Mortgage applications for the purchase of newly built homes fell sharply in July, but the Mortgage Bankers Association (MBA) said it expects new home sales for the month will remain strong. MBA's Builder Application Survey (BAS) recorded a 27.4 perce... (read more)
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