
1 minute read
2023
says MBA vice president and deputy chief economist Joel Kan. “Lower rates from week to week have helped buyers in the market, but limited for-sale inventory remains a challenge for many home buyers ”
Kan says refinancing activity increased to its highest levels since 2022, but he notes that only a small pool of borrowers can benefit from refinancing at current rate levels
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The adjustable-rate mortgage share of activity decreased to 6.8% of total applications, and the FHA share of total applications decreased to 12.1%, according to the MBA. The VA share of applications increased to 12 9% from 11 3% the week prior
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