The approval rate (blue bars) refers to to the percentage of loan applications considered that are approved for a loan by the lending institution.  Some applicants never have their applications considered because the applications are incomplete or are withdrawn by the applicant prior to consideration.  The percent of approved accepting loan (yellow bars) refers to the percentage of approved applicants who actually accept and originate a loan.  Many applicants decline an approved loan either because they changed their mind about the purchase, or because they have received approvals from multiple institutions.

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