As weekly mortgage applications dropped off, the share of activity that was represented by government insured loans thinned for the third consecutive week.

The Market Composite Index for the week that ended on March 17, 2017, moved lower by a seasonally adjusted 3 percent compared to one week earlier.

Foregoing seasonal adjustments, the index, a representation of retail residential loan application volume, retreated 2 percent from the week ended March 10.

Source: Mortgage Daily