MBA: Mortgage Applications Ended 2012 In Decline

Posted by Orb Staff on January 03, 2013 No Comments
Categories : Residential Mortgage

13009_housingdecline MBA: Mortgage Applications Ended 2012 In Decline Mortgage applications declined during the final two weeks of 2012, according to new data from the Mortgage Bankers Association (MBA) for the two weeks ending Dec. 21, 2012, and Dec. 28, 2012.

Mortgage applications for the week ending Dec. 28, 2012, decreased 21.6% from the week ending Dec. 14, 2012. The results include an adjustment to account for the Christmas holiday last Tuesday.Â

The MBA's refinance index decreased 23.3% compared to the week ending Dec. 14, 2012. The refinance index fell for three consecutive weeks, with the week ending Dec. 28, 2012, at the lowest level since April 2012. The refinance share of mortgage activity remained the same at 82% of total applications for the two weeks.

The seasonally adjusted purchase index decreased 14.8% compared with levels reported two weeks ago.

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