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The Mortgage Bankers Association's (MBA) said its Market Composite Index, a measure of mortgage loan application volume, rose 2.8 percent on a seasonally adjusted basis during the week ended August 8 . It was up 3 percent on an unadjusted basis. The volume of both refinance and purchase mortgage applications gained ground from the prior week. The Refinance Index increased 3 percent although it was 8 percent lower than the same week in 2020. The refinance share of mortgage activity increased to 68.0 percent of total applications from 67.6 percent the previous week. The Purchase Index was 2 percent higher on a seasonally adjusted basis and up 1 percent before adjustment. The unadjusted index, however, was 18 percent lower than the same week a year earlier, a number that has not changed in four
Rob Chrisman
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Lenders always have a lot going on. Like “significant competitive pressure and volatility in the capital markets,” as evidenced by Home Point’s $73 million loss for 2Q 2021, announced yesterday. Remaining compliant can be a chore as... (read more)
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Housing News
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The Mortgage Bankers Association's (MBA) said its Market Composite Index, a measure of mortgage loan application volume, rose 2.8 percent on a seasonally adjusted basis during the week ended August 8 . It was up 3 percent on an unadjusted basis. The ... (read more)
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Housing News
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Purchase loans finally regained the catbird seat in June, edging out the share of refinance loans by 3 percentage points . ICE Mortgage Technology reports that 51 percent of all mortgages originated during the month were for home purchases. This is t... (read more)
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