Mortgage Application Activity Down for Third Consecutive Week

Posted To: MND NewsWire

Mortgage activity declined again during the week ended July 27. The Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of loan application volume was down for the third consecutive week , falling by 2.5 percent on a seasonally adjusted basis from the July 20 level. On an unadjusted basis the index lost 3 percent. Bost the seasonally adjusted and the unadjusted Purchase Indicies were also down 3 percent. The adjusted Purchase Index has declined an aggregate of 9 percentage points over the last three weeks, reflecting the recent softening of both new and existing home sales . The unadjusted Purchase Index remains 1 percent higher than during the same week in 2017. Refi Index vs 30yr Fixed Purchase Index vs 30yr Fixed The Refinance Index decreased 2 percent from the previous...(read more)

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