By Jann Swanson
Posted To: MND NewsWire
Mortgage applications declined again during the week ended February 20. The Mortgage Bankers Association (MBA) said that its Market Composite Index, a measure of application volume, was down 3.5 percent on a seasonally adjusted basis from the week ended February 13. There was also an adjustment to the data to account for the Presidents’ Day Holiday which fell during the week. On a non-adjusted basis the volume was down 12 percent from the previous week. Refinancing activity continued to retreat . The Refinance Index decreased 8 percent from the previous week and the refinancing share of applications fell from 66 percent to 62 percent, the fourth decline in five weeks. The seasonally adjusted Purchase Index increased 5 percent from one week earlier. The unadjusted Purchase Index lost 2 percent…(read more)
Via:: Purchase Apps Pick Up Some Slack From Falling Refi Volume
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