Mortgage Apps Fall, But Refi Share Ticks Up

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Posted To: MND NewsWire

Mortgage applications were down across the board during the week ended December 9. The Mortgage Bankers Association (MBA) said that its Market Composite Index, a measure of application volume, was 4.0 percent lower than the previous week which ended on December 2. The index was down 5 percent on an unadjusted basis. While the share of refinancing increased to 57.2 percent of all applications compared to 56.2 percent a week earlier, the Refinance Index lost 4 percent. The seasonally adjusted Purchase Index decreased 3 percent from one week earlier while the unadjusted index dropped 7 percent. It remained, however, 2 percent higher than the same week one year ago. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed Applications for loan products were distributed in much the same way as they…(read more)

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