A weekly bump in purchase-money applications was offset by a dip in refinances. The share of loan applications for adjustable-rate mortgages was the most broad it’s been in four months.
Based on the Market Composite Index for the week ended Sept. 28, applications for retail-originated loans secured by single-family properties were completed at the same pace as a week earlier.
But when the seasonal adjustments are removed from the index, a measure of mortgage application volume, the number of applications were modestly lower by 0.2 percent.
Source: Mortgage Daily