At Mid-Year, Mortgage Application Volume Continues Decline


Posted To: MND NewsWire

In spite of a slight uptick in purchase activity, the overall pace of mortgage applications fell again during the week ended June 29. The Mortgage Bankers Association’s (MBA’s) Market Composite Index, a measure of that volume, decreased 0.5 percent on a seasonally adjusted basis from one week earlier and was down 1 percent unadjusted. Last week marked the mid-point of 2018, and the year has, so far, been notable for its declining volume. The MBA Index has been up in 11 of the 26 weeks, and only four of those gains have come since mid-March. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed The seasonally adjusted Purchase Index rose 1 percent from its level during the week ended June 22 but was unchanged on an unadjusted basis. Volume was 1 percent lower than during the same week in 2017…(read more)

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