Mortgage Applications, Refi Activity Trended Down Last Week

Posted by Orb Staff on February 20, 2013 No Comments
Categories : Residential Mortgage

13334_house_for_sale2 Mortgage Applications, Refi Activity Trended Down Last Week Both mortgage applications and refinance activity took a dip last week, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the week ending Feb. 15.

The MBA's market composite index decreased 1.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 1% compared with the previous week.Â

The refinance index decreased 2% from the previous week. The refinance share of mortgage activity decreased to 77% of total applications, the lowest level since May 2012, from 78% the previous week.

The seasonally adjusted purchase index decreased 2% from one week earlier. The unadjusted purchase index increased 3% compared with the previous week and was 17% higher than the same week one year ago.

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