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Purchase Application Volume up for Fourth Consecutive Week

Wednesday, March 24, 2021

Mortgage application volume declined for the third consecutive time during the week ended March 19 as refinancing continued to retreat. The Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey revealed a 2.5 percent decrease in the seasonally adjusted Market Composite Index, a measure of mortgage loan application volume. The Index was down 2.0 percent before adjustment. The Refinance Index declined 5 percent from the previous week and was 13 percent lower than the same week one year ago. Refinancing accounted for 60.9 percent of the week's applications compared to 62.9 percent during the week ended March 12. The Purchase Index increased 3 percent on both an adjusted and unadjusted basis. It was 26 percent above its level during the same week in 2020.

 

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Linden was very professional, knowledgeable, efficient, patient and personable. All of these qualities played an important part of processing and closing the loan. Linden was great through the whole process of working with me, to working with the real estate company, and other offices involved. I know the seller’s real estate agent was rude and hard to work with at times. It was unfortunate that Linden had to deal with it but he handled the situation professionally. Also, I was gone 95% of the time traveling for work while buying the home. Linden was great about working with me while I was away and helped keep things moving and organized. It was greatly appreciated.
Victoris S.