General World News

Mortgage demand remains flat amid rate volatility

Mortgage demand remained relatively flat last week amid volatility in mortgage rates in recent weeks. 

The market composite index, a measure of mortgage loan application volume, rose a marginal 0.2% for the week ending August 5, according to the Mortgage Bankers Association (MBA). The market index is down 62% compared to the same week in 2021.  

The refinance index rose 4% from the previous week while the purchase index fell 1% in the same period. Mortgage demand remains weak compared to a year ago. The refi index fell 82% from the same week in 2021 and the purchase details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com