Loan demand rises for third straight week

Volume lags compared to '09, says MBA

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

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.