Mortgage applications dipped 2.4% for the week ending Aug. 27, with a notable drop in refinance applications, according to the latest report from the Mortgage Bankers Association.
On an unadjusted basis, the weekly mortgage application survey by the trade organization decreased 3% compared to the prior week. The refinance index fell 4% but was still higher than it was a year ago. The seasonally adjusted purchase index dropped 2% compared to the previous week and was 16% lower than it was a year ago, largely due to soaring prices and paltry inventory.
BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com