Overall mortgage application volume was down from a week earlier. But compared to a year earlier, applications for home-purchase loans have ascended 7 percent.

A seasonally adjusted 2 percent drop from the previous seven-day period was recorded for the Market Composite Index for the week ended Oct. 6.

The index, a measure of retail residential loan application volume, was still down 2 percent from the week ended Sept. 29 when seasonal factors are ignored.

Source: Mortgage Daily