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Refinancing Continues Slide; Volume Flat
Wednesday, March 11, 2015
Applications for purchase mortgages picked up a little steam this week
even as application volume overall remained flat. The Mortgage Bankers Association said that
its Market Composite Index, a measure of application volume, was down 1.3
percent during the week ended March 6 on a seasonally adjusted basis and the
unadjusted index lost 1 percent compared to the previous week.
The seasonally adjusted Purchase Index gained 2.0 percent from the week
ended February 27 and the unadjusted version was up 3.0 percent. The unadjusted Purchase Index was also 2.0
percent higher than during the same week in 2014. These gains were offset by a 3 percent
week-over-week decline in the Refinance Index.
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