Mortgage application volume decreased for a fourth straight week during the week ended March 26, dropping 2.2% compared with the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey.
Applications for refinances dropped 2% compared with the previous week and were down 32% compared with a year ago. Applications for purchases were also down 2% compared with the previous week but were up 39% compared with a year ago.
The drop
By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD).
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