Homebuyers took some time off last week as homeowners got busy. An index tracking the volume of mortgage applications to buy homes fell last week by 6 percent, seasonally adjusted, from the first week of July. The metric, known as the purchase index, is based on a weekly survey by the Mortgage Bankers Association. Despite last week’s drop, Joel Kan, the group’s executive in charge of industry forecasting, said the volume of purchases applications was
source https://therealdeal.com/2020/07/15/applications-for-loans-to-buy-homes-drop/
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