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Mortgage App Volume Showing Signs of Life?

Mortgage App Volume Showing Signs of Life?

In light of yesterday’s strong report on new home sales and the earlier marginally improved one on pre-owned home sales, mortgage application volumes could indicate that the spring real estate market didn’t actually evaporate. Maybe it’s just running a little late. For the third straight week, mortgage applications rose , not enough to overcome its big, long running deficit, but a welcome sign of life.  The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 3.0 percent on a seasonally adjusted basis from one week earlier. This despite a four-day business week to the Juneteenth observance. On an unadjusted basis, the Index declined 8.0 percent compared to the previous week. The seasonally adjusted Purchase Index rose 3.0 p
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