MBA: Mortgage Applications, Refi Activity Down Again

Posted by Orb Staff on November 21, 2012 No Comments
Categories : Residential Mortgage

12786_housingdecline MBA: Mortgage Applications, Refi Activity Down Again Mortgage applications and refinance activity took a dip for the week ending Nov. 16, according to the Mortgage Bankers Association's (MBA) weekly mortgage applications survey. This week's results include an adjustment to account for the Veteran's Day holiday.

The MBA's market composite index decreased 2.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 13% compared with the previous week.Â

The refinance index decreased 3% from the previous week. The refinance share of mortgage activity remained unchanged at 81% of total applications from the previous week.

The seasonally adjusted purchase index increased 3% from one week earlier. The unadjusted purchase index decreased 11% compared with the previous week and was 6% lower than the same week one year ago.

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