The Smart Team of NOVA® Home Loans

Refinance Apps Share Keeps Pushing Post-Crisis Lows

Posted To: MND NewsWire

Mortgage applications activity was down slightly during the week ended February 17 compared to the previous week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, was down 2.0 percent on a seasonally adjusted basis although it was 1 percent higher on a non-adjusted basis. The Refinance Index fell a modest 1 percent vs last week to the lowest level since January 2017. The seasonally adjusted Purchase Index decreased 3 percent from one week earlier to the lowest level since November 2016. The unadjusted Purchase Index increased 2 percent compared with the previous week and was 10 percent higher than the same week one year ago, a week which included the President’s Day holiday. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed Refinancing…(read more)

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Source: Mortgage News Daily

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