AgentIndustry News

Mortgage applications are flattening out

MBA’s latest weekly survey shows little movement in purchase applications, but refis are on the rebound

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Takeaways: Mortgage applications increased only 0.1 percent from last week. FHA and USDA applications both decreased, but VA applications saw a slight increase. Mortgage applications for existing homes have been somewhat flat for about two months, according to MBA’s weekly surveys. Could the hot summer selling season be winding down? According to the Mortgage Bankers Association’s (MBA) latest Weekly Mortgage Applications Survey, mortgage applications increased only 0.1 percent from the previous week. For the week ending Aug. 7, on an adjusted basis, mortgage applications decreased 1 percent from the previous week, MBA said. FHA and USDA applications both decreased, but VA applications saw a slight increase. In its previous survey for the week ending July 31, MBA said applications actually increased 4.7 percent from the week prior. Aside from that sudden spike, mortgage applications for existing homes have been somewhat flat for about two months, according to...