By Jann Swanson
Posted To: MND NewsWire
A healthy increase in purchase mortgage applications last week was met with shrinking refinance activity leaving the Mortgage Bankers Association’s Market Composite Index for the week ended April 3 essentially unchanged. The Composite, a measure of application volume, increased 0.4 percent on a seasonally adjusted basis from the previous week and was 1.0 percent higher on an unadjusted basis than the Composite for the week ended March 27. The seasonally adjusted Purchase Index and its unadjusted counterpart both increased by 7 percent compared to the previous week and the unadjusted index was 12 percent higher than during the same week in 2014. According to Michael Fratantoni, MBA’s Chief Economist, it was the highest level of activity for the seasonally adjusted Purchase Index since July 2013…(read more)
Via:: Purchase Applications Hit 21-Month High
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