Mortgage Applications Dive After Recent Rate Dips Reverse — RISMedia

After two weeks of declining mortgage rates, an increase this past week along with renewed concerns of tariff impacts deflated home purchase applications by a notable 10%. 

According to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association (MBA) for the week ending July 11, the Market Composite Index (a measure of mortgage loan application volume) decreased 10.0% from the previous week’s 6.67% decrease. On an unadjusted basis, the Index increased 13% compared with the previous week.

“Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy. As a result, mortgage rates rose after two weeks of declines, which contributed to…