Mortgage Applications Increase for Third Straight Week
Washington, DC, May 7, 2020-Mortgage applications increased 0.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 1, 2020.
This is the third straight weekly increase, reports CNBC, which says, “Homebuyers appear to be heading slowly back into the market, as the coronavirus-stricken economy begins to reopen.
“Purchase volume was still 19% lower annually, but that annual loss is shrinking by the week. Just three weeks ago, purchase volume was down 35% annually. Demand last week was led by strong growth in Arizona, Texas and California.”