Mortgage Applications Decreased in Latest MBA Weekly Survey

Stubbornly high interest rates and decreased housing inventory are contributing to the slide. It’s more of the same for the U.S. housing market as weekly mortgage applications are in retreat, mostly due to high home prices and robust interest rates.That’s the call from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 21, 2023.The survey found that Market Composite Index, which tracks U.S. mortgage loan application volume, slid by 1.8% from the

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