MBA: Mortgage Applications, Refi Activity Down Last Week

Posted by Orb Staff on October 17, 2012 No Comments
Categories : Residential Mortgage

12584_0aforsale MBA: Mortgage Applications, Refi Activity Down Last Week Mortgage applications and refinance activity declined during the week ending Oct. 12, according to the latest data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey. The week's results include an adjustment to account for the Columbus Day holiday.

The MBA's market composite index decreased 4.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 14% compared with the previous week.Â

The MBA's refinance index decreased 5% from the previous week. The refinance share of mortgage activity decreased to 82% of total applications from 83% the previous week.

The seasonally adjusted purchase index increased 1% from one week earlier. This is the highest purchase index observed in the survey since early June. However, the unadjusted purchase index decreased 9% compared with the previous week, but it was 12% higher than the same week one year ago

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