MBA: Mortgage Applications Decrease 1.4%

Posted by Orb Staff on September 22, 2010 No Comments
Categories : Residential Mortgage

Compared to a week earlier, the Mortgage Bankers Association's (MBA) Market Composite Index decreased 1.4% on a seasonally adjusted basis for the week ending Sept. 17.

The Refinance Index decreased 0.9% from the previous week, which is the third straight weekly decrease. The seasonally adjusted Purchase Index decreased 3.3% from one week earlier.

The refinance share of mortgage activity increased to 81.1%Â of total applications from 80.5% the previous week. The adjustable-rate mortgage share of activity decreased to 5.9% from 6.2% of total applications from the previous week.

SOURCE: Mortgage Bankers Association

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