Size of home purchase loans hits record high

Homebuyers celebrated before the July 4 holiday weekend by applying for mortgages. An index tracking applications to buy single-family homes increased 5 percent last week, seasonally adjusted, from the week prior. The Mortgage Bankers Association metric, known as the purchase index, fell for the last two weeks in June. Joel Kan, MBA’s executive at the helm of industry forecasting, called last week’s rebound a “recovery,” noting that it was the highest level of purchase applications

source https://therealdeal.com/2020/07/08/the-size-of-home-purchase-loans-hits-record-high/