Posted To: MND NewsWire
Mortgage application activity was listless as summer unofficially ended and the nation prepared for the Labor Day weekend. Changes during the week ended September 2 were minor and moved in both directions depending on whether seasonality entered the picture or not. The Mortgage Bankers Association said its Market Composite Index , a measure of applications volume, rose 0.9 percent on a seasonally adjusted basis from the week ended August 2 but was down 0.1 percent when unadjusted. The same yin and yang prevailed with the Purchase Index which rose 1 percent when adjusted and fell 1 percent unadjusted. On a year-over-year basis the Purchase Index was up 7 percent. The Refinancing Index increased 1 percent and the market share of refinancing activity increased to 64.0 percent of total applications...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2ccRDyT
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