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Mortgage Apps Decline

Wednesday, September 30, 2015

Application volumes fell even as interest rates were in a holding pattern during the week ended September 25.  The Mortgage Bankers Association (MBA) said that mortgage applications as measured by its Market Composite Index decreased during the week by 6.7 percent on a seasonally adjusted basis and 7 percent unadjusted.

The Refinance Index was down 8 percent from the week ended September 18 and the refinancing share of all applications fell slightly from 58.4 percent to 58.0 percent.  Both seasonally adjusted and unadjusted Purchase Indices were down 6.0 percent but the unadjusted index remained 20 percent higher than during the same week in 2014.

 

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