MBA: Mortgage Applications Down 3.8%

Posted by Orb Staff on April 25, 2012 No Comments
Categories : Residential Mortgage

11404_140474721 MBA: Mortgage Applications Down 3.8% Mortgage applications decreased 3.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the week ending April 20.

The MBA's market composite index decreased 3.8% on a seasonally adjusted basis from one week earlier; on an unadjusted basis, the index decreased 3.3% compared with the previous week.Â

The refinance index decreased 5.6% from the previous week, with the conventional refinance index decreasing by 6.1% and the government refinance index decreasing by 2.1%. The refinance share of mortgage activity decreased to 73.4% of total applications from 75.2% the previous week.

The seasonally adjusted purchase index increased 2.7% from one week earlier. The unadjusted purchase index increased 3.6% compared with the previous week and was essentially unchanged from the same week one year ago.

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