The volume of applications for home loans fell again last week, due to a weak job market and tightening credit rules. The weekly survey tracking purchase loans saw a seasonally adjusted decline of 2 percent in the final week of July. The Mortgage Bankers Association metric, known as the purchase index, is still up 20 percent year over year, according to Joel Kan, head of MBA’s industry forecasting. It marks the eleventh week of consecutive
source https://therealdeal.com/2020/08/05/home-loan-applications-fall-again-amid-tight-credit-rules-weak-job-market/
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