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Mortgage Apps Rise; Prices Hit Record High
Wednesday, November 18, 2015
It was another holiday muddled week for the Mortgage Bankers Association's
Market Composite Index. The index, a
measure of applications volume, rose 6.2 percent on a seasonally adjusted basis
but fell 6.0 percent on a non-adjusted basis.
The week's results included an adjustment for the Veterans Day holiday.
The Purchasing indexes were also bifurcated with the seasonally adjusted
index increasing 12 percent while the unadjusted index was down 3 percent
compared to the previous week. The
unadjusted Index was 19 percent above its level during the same week in
2014. The measure of refinancing was at
least clear, that index, which is unadjusted, increased 2 percent from the week
ended November 6.
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