Loan demand rises for third straight week

Volume lags compared to '09, says MBA

Demand for purchase loans inched up for the third week in a row at the end of July, but was still down nearly 34 percent from a year ago, the Mortgage Bankers Association said in releasing the results of its Weekly Mortgage Applications Survey.

Demand for purchase loans was up a seasonally adjusted 1.5 percent during the week ending July 30, while applications for refinancings rose 1.3 percent from the previous week.