Mortgage applications slowed from the holiday week, though activity improved when seasonal factors are disregarded. Refinances slowed despite a widening share.
The Market Composite Index for the seven days ended Sept. 15 was down by a tenth after adjusting for the Labor Day holiday the previous week.
But without any seasonal adjustments, the index — a measure of retail residential loan application volume — ascended 12 percent from the week ended Sept. 8.
Source: Mortgage Daily