MBA Plays Catch Up After Holiday Hiatus

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Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) closed its offices for the year-end holidays, so today’s report on mortgage applications for the week ended December 29, 2017 covers changes since the Association’s report for the week ended December 15. The data includes adjustments to account for the Christmas holiday. MBA’s Market Composite Index, a measure of mortgage loan application volume, decreased 2.8 percent on a seasonally adjusted basis compared to that from two weeks earlier, and was down 42 percent on an unadjusted basis compared to the pre-holiday week. The seasonally adjusted Purchase Index gained 1 percent , but was down 40 percent on an unadjusted basis. Despite that plunge it remained 3 percent higher than during the same week in 2016. The Refinance Index decreased by 7 percent from…(read more)

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