Market update: mortgage applications fall 0.2 percent

The MBA’s weekly mortgage application survey showed a 0.2 percent drop overall from the previous week. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“While the purchase application numbers are still below last year’s levels, much of the recent housing data has been encouraging. Geopolitical turmoil continues to keep rates historically low, as investors look for stability in bonds, leaving an opportunity for those looking to purchase or refinance.”

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