Mortgage Apps Decline

Posted To: MND NewsWire

Application volumes fell even as interest rates were in a holding pattern during the week ended September 25. The Mortgage Bankers Association (MBA) said that mortgage applications as measured by its Market Composite Index decreased during the week by 6.7 percent on a seasonally adjusted basis and 7 percent unadjusted. The Refinance Index was down 8 percent from the week ended September 18 and the refinancing share of all applications fell slightly from 58.4 percent to 58.0 percent. Both seasonally adjusted and unadjusted Purchase Indices were down 6.0 percent but the unadjusted index remained 20 percent higher than during the same week in 2014. Refinance Index vs 30 Yr Fixed Purchase Index vs 30 Yr Fixed The FHA share of total applications was up a slight 0.9 percentage point to 13.8 percent...(read more)

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from Mortgage News Daily http://ift.tt/1LOQBV0