Even though mortgage interest rates moved lower again last week, application activity continued to decline. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, decreased 2.3 percent on a seasonally adjusted basis and 3.0 percent before adjustment during the week ended May 27. The Refinance Index fell another 5 percent from the previous week, leaving it down by 75 percent from its level during the same week in 2021.
Looking Ahead to the Biden Administration and 117th Congress
2021 promises to be a big year for the appraisal profession. The coronavirus pandemic forced appraisers to quickly adapt, and we had to tackle a
February 1, 2021
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