Mortgage Apps Drop To Lowest Level Since 2000
MBA’s tracking found interest dropped 6.3 percent last week
MBA’s tracking found interest dropped 6.3 percent last week
Following weeks on the decline, the refinance index finally saw a bump up, per the MBA
Following a 5 percent drop in May amid rising rates, interest in purchase loans increased in mid-June
Compared to the month prior, apps were down 4 percent
Applications for purchase mortgages are down 21 percent annually, while refi demand is down 75 percent
Originations are expected to rise despite anticipated slowdown in existing home purchases
Total apps dropped 13.1 percent, while refi apps specifically fell 15 percent
Mortgage loan applications were also down on a weekly and annual basis
The Refinance Index also saw a bump following weeks on the low
New numbers from the MBA show applications increased 2.8 percent week-over-week
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