Mortgage Applications, Refi Activity Fell Last Week

Posted by Orb Staff on October 31, 2012 No Comments
Categories : Residential Mortgage

12669_0afhfamod Mortgage Applications, Refi Activity Fell Last Week Mortgage applications and refinance activity declined during the week ending Oct. 26, according to the Mortgage Bankers Association's (MBA) weekly mortgage applications survey.

The MBA's market composite index decreased 4.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 5% compared with the previous week.Â

The refinance index decreased 6% from the previous week to the lowest level since the end of August. The refinance share of mortgage activity decreased to 80% of total applications from 81% the previous week.Â

The seasonally adjusted purchase index increased 1% from one week earlier. The unadjusted purchase index declined 0.3% compared with the previous week and was 6% higher than the same week one year ago.

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