Posted To: MND NewsWire

Mortgage application volume moved lower last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, fell 4.0 percent on a seasonally adjusted basis during the week ended December 10 and 6 percent without adjustment. The Refinance Index declined 6 percent week-over-week and was 41 percent lower than the same week one year ago. The refinance share of mortgage activity decreased to 63.3 percent of total applications from 63.9 percent the previous week. The seasonally adjusted Purchase Index gained 1 percent but was 4 percent lower on an unadjusted basis than the prior week and 9 percent lower than during the same week in 2020. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed “Applications to refinance fell over the week, despite the 30-year…(read more)

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Source: Mortgage News Daily