Monday, June 5, 2023 | The Latest Buzz for the Appraisal Industry

Post FOMC Rate Drop Spurred Application Volume Last Week

Mortgage application activity rose last week, reversing a series of declines that started in late June. The increase was modest; the Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, ticked up 1.2 percent on a seasonally adjusted basis, but both purchasing and refinancing volumes moved higher. On an unadjusted basis, the Composite Index increased 1 percent compared with the previous week. The Refinance Index increased 2 percent

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