Homebuying demand is dropping off, but those still in the market are applying for larger loans, according to a weekly report tracking mortgage applications. An index that follows applications to buy single-family homes fell by 1 percent, seasonally adjusted, compared to the prior week. It marks the second week in a row that the Mortgage Bankers Association’s survey, known as the purchase index, declined. Joel Kan, MBA’s executive at the helm of industry forecasting, called
source https://therealdeal.com/2020/07/01/home-loans-are-getting-bigger-even-as-application-volume-drops/
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