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Mortgage Application Activity....Zzzzzzz

Wednesday, November 4, 2015

Mortgage application volume was essentially flat during the week ended October 30.  The Mortgage Bankers Association (MBA) said its Market Composite Index a measure of application volume, ended the week down 0.8 percent on a seasonally adjusted basis compared to the week ended October 23.  The unadjusted index was 1.0 percent lower.  

The Refinance Index was down 1 percent from the previous week however the refinance share of activity rose slightly to 59.7 percent of all mortgage applications compared to 59.5 percent during the prior period.

Applications for purchase mortgages dipped 1 percent on a seasonally adjusted basis and were down 2 percent unadjusted.  The latter was 20 percent higher than during the same week in 2014.

 

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