Posted To: MND NewsWire

The Mortgage Banker Association’s (MBA’s) offices were closed over the two-week holiday period. The data in this week’s report on mortgage applications activity is compared with that from the last published report covering the week ended December 20. MBA’s Market Composite Index, a measure of mortgage loan application volume was down 1.5 percent on a seasonally adjusted basis compared to the previous report. On an unadjusted basis, the Index was 22 percent lower. The Refinance Index was down 8 percent from the last report while remaining elevated from the same week a year earlier by 74 percent . The seasonally adjusted Purchase Index increased 5 percent although it was down 14 percent on an unadjusted basis from the December 20 period. Purchase applications were 2 percent higher than the same…(read more)

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Source: Mortgage News Daily