Mortgage application volume decreased 0.9% on a seasonally adjusted basis last week, the Mortgage Bankers Association reports. On an unadjusted basis, the index increased 22.8% compared with the previous week, which included the Thanksgiving holiday.
The Refinance Index decreased for the fourth consecutive week, falling 1.4% from the previous week. The index is at its lowest level since June.
The Purchase Index, however, rose 1.8% from one week earlier – the third weekly increase for the Purchase Index, which reached its highest level since early May. The unadjusted Purchase Index increased 21.3% compared with the previous week and was 12% lower than the same week one year ago.
SOURCE: Mortgage Bankers Association