Minor Correction For Mortgage Applications

Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) said today that the volume of applications for both purchase mortgages and refinancing retreated last week from their levels during the week ended March 10. MBA’s Market Composite Index, a measure of that volume, was down 2.7 percent during the week ended March 17 on a seasonally adjusted basis, and was 2.0 percent lower before adjustment. The Refinance Index decreased 3 percent from the previous week and the share of applications that were for refinancing shrank to 45.1 percent from 45.6 percent. The Government Refinance Index dropped 12 percent , hitting its lowest level since December 2014. MBA’s Purchase Index lost 2 percent on both an adjusted and unadjusted basis compared to a week earlier. The unadjusted index was 5 percent higher than during the…(read more)

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Source: Mortgage News Daily

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