Mortgage volumes increase for first time in a month
Mortgage volumes increase for first time in a month
Abstract
The MBA's Market Composite Index edged up a seasonally adjusted 1.2% for the week ending July 29. The Refinance Index increased 2% from the prior week but ran 82% below its pace in the same weekly period of 2021. The refinance share of activity relative to overall volume also crept up to 30.7% seven days earlier. In 2021's hot market, refinances accounted for more than two-thirds of all applications.
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