Applications Continue Stabilizing as Rates Recover


Posted To: MND NewsWire

Mortgage applications continue to decompress from the two-week holiday moratorium as well as from the usual holiday business interruptions, so it is hard to know where volumes really stand. The Mortgage Bankers Association’s (MBA’s) current Market Composite Index, covering the week ended January 6, 2017, includes an adjustment to account for the New Year’s Day holiday, while the previous week’s results were adjusted for the Christmas holiday. The composite shows applications increasing 5.8 percent from the week ended December 30 on a seasonally adjusted basis and by 42 percent unadjusted. The Refinance Index was up 4 percent from the previous week and the refinancing share of applications ticked down to 51.2 percent from 52.2 percent. The seasonally adjusted Purchase Index increased 6 percent…(read more)

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