Market Update: Another Dip in the MBA Weekly Mortgage Applications Survey

Mortgage applications decreased by 0.9 percent last week on a seasonally adjusted basis. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“Another dip in mortgage applications is particularly disappointing after the welcome news of increased home sales earlier this week. While we have seen many of the indicators regain the footing they lost in the recession, housing cannot reach its stride until the employment picture attains stability.”

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