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Mortgage Apps Continue Brisk, Possibly Mysterious Downtrend

Wednesday, September 16, 2015

The Mortgage Bankers Association (MBA) reported that, as usually occurs during a holiday week, mortgage applications declined significantly during the week ended September 11.  The business week was shortened by the Labor Day holiday on Monday and both seasonally adjusted and unadjusted numbers were down. It was the second week in a row for across the board declines for the weekly numbers so it is unclear whether the downturn was totally a result of the holiday disruption, or if some other factor was in play (such as variations in school schedules).

MBA's Market Composite index, a measure of application volume fell by 7.0 percent from the week ended September 4 and was down 17 percent on an unadjusted basis.


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