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Refinancing continues to support mortgage application activity while purchase applications continued to weaken during the week ended July 23. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan application volume, increased 5.7 percent on a seasonally adjusted basis from the prior week and the unadjusted index was up 6 percent. The Refinance Index rose by 9 percent although it was down 10 percent from its level the same week one year ago. The refinance share of mortgage activity increased to 67.2 percent of total applications from 64.9 percent the previous week. The seasonally adjusted Purchase Index decreased 2 percent and unadjusted Purchase Index ticked down 1 percent compared with the previous week. The latter was 18 percent lower than the
Housing News
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Refinancing continues to support mortgage application activity while purchase applications continued to weaken during the week ended July 23. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan applicati... (read more)
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Rob Chrisman
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I didn’t sign up for a 401k. I can’t run that far. Understanding numbers is important, as is accurately reporting them. For example, yesterday I mistakenly noted that the TMBA’s Annual Convention was August 29-30 when it’s act... (read more)
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Housing News
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The U.S. Census Bureau says the nation's Homeownership Rate was at 65.4 percent in the second quarter of 2021. This is down from both the previous quarter's 65.6 percent , and a year earlier when it was reported at 67.9 percent. However, the Bureau c... (read more)
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