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The volume of mortgage applications ticked up last week for the first time in three weeks, but an uptick was the extent of it. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 0.2 percent on a seasonally adjusted basis from one week earlier and was 0.4 percent higher on an unadjusted basis. Over the previous two weeks the index had lost an aggregate of 8.0 percent. The Refinance Index decreased 1 percent from the prior week and was 16 percent lower than the same week one year ago. The refinance share of mortgage activity decreased to 63.9 percent of total applications from 64.5 percent. The Purchase Index gained 2 percent week over week on both an adjusted and an unadjusted basis. It was down 10 percent compared to the same week in
Housing News
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The volume of mortgage applications ticked up last week for the first time in three weeks, but an uptick was the extent of it. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 0.2 percent on ... (read more)
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Rob Chrisman
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Those heading to the conference in San Diego should pack stylish, yet sensible, shoes given the amount of walking. (Today’s audio version of the commentary is available here and includes an interview between Robbie and myself about the MBA Annu... (read more)
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Housing News
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A new report from the National Association of Realtors (NAR) says housing affordability in the U.S. improved in August for the second straight month. NAR's Housing Affordability Index rose from 150.6 in July to 151.3 but was down from 165.8 the prior... (read more)
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