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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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