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Despite newly lower interest rates, mortgage applications were lower during the week ended July 30. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, was 1.7 percent lower on a seasonally adjusted basis than the previous week and was down 2 percent on an unadjusted basis. The Refinance Index was also lower, declining by 2 percent from the previous week and was 3 percent lower than the same week one year ago. Refinancing continued to dominate activity with a 67.6 percent share of total applications, up from 67.5 percent during the week ended July 23. The Purchase Index decreased 2 percent on both an adjusted and unadjusted basis from the prior week. The unadjusted index was 18 percent lower than the same week in 2020. Refi
Housing News
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Despite newly lower interest rates, mortgage applications were lower during the week ended July 30. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, was 1.7 percent lower on a seas... (read more)
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Rob Chrisman
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WalletHub released its 2021 Home Overleverage Report after determining where homeowners have the most unsustainable mortgage debts. WalletHub compared the median mortgage debt to the median income and median home value in more than 2,500 U.S. cities.... (read more)
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Housing News
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Each of the GSEs have posted strong financial results for the second quarter of 2021. Both Freddie Mac and Fannie Mae more than doubled their net income compared to a year earlier while Fannie Mae also set a record for single family home purchase acq... (read more)
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