Loan Application Defect Index

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First American says nation’s low-interest rate environment has reduced mortgage defect risk

Aug 30, 2019By

In July, America’s mortgage defect risk declined 5% from the month prior, according to the latest First American Loan Application Defect Index. First American Chief Economist Mark Fleming said July’s decline can be attributed to the nation’s low mortgage rates, which have eased market competition and led to an increase of lower-risk refinance transactions.

3d rendering of a row of luxury townhouses along a street

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