Mortgage Activity Slows in Latest Application Report Despite the Ease of Securing FHA Loans

Mortgage Activity Slows in Latest Application Report Despite the Ease of Securing FHA Loans

This morning the Mortgage Bankers Association (MBA), in its Weekly Mortgage Applications Survey for the week ending July 18, announced that mortgage loan application volume dropped 6.2 when compared to the week prior. The number of people applying to refinance their existing mortgage dropped, as did the number of people applying for a mortgage to purchase a home. FHA loans, which for months have been the star of the MBA report posting large week to week gains, also saw a pull-back of 7.7 .

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