Mortgage Applications Settle Back into Winter Norms

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Posted To: MND NewsWire

Mortgage applications returned to more normal levels during the week ended January 18 after two rather post-holiday periods. Both purchasing and refinancing were down from double digit levels and the Mortgage Bankers Association’s (MBA) Market Composite Index gave back a small portion of the 37 percent in aggregate gains accumulated over the two previous weeks. The composite, a measure of total application volume, declined 2.7 percent on a seasonally adjusted basis compared to the week ended January 11 and was down 0.3 percent on a non-adjusted basis. The Purchase Index dropped back by two points on an adjusted basis but did increase 4 percent on a non-adjusted basis and remained 13 percent ahead of the same week in 2018. The Refinance Index declined by 5 percent and the share of applications…(read more)

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