Softening in new loan applications to finance a home purchase were out front of a week-over-week decline in overall new mortgage applications.
A seasonally adjusted 3 percent decline from the previous week was recorded for the Market Composite Index for the week ended Jan. 27.
But when seasonal factors are excluded from the index, there was an 11 percent rise from the week that included the Martin Luther King Jr. holiday.
Source: Mortgage Daily
