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Mortgage Apps Decline as Rates Remain Elevated

Wednesday, November 25, 2015

Mortgage applications were a bit of a mixed bag during the week ended November 20, a week in a hammock strung between two holidays.  The Mortgage Bankers Association said its Market Composite Index, a measure of application activity, was down by 3.2 percent on a seasonally adjusted basis from the previous week but increased by 6 percent on an unadjusted basis.  The data from the week ended on November 13 had included an adjustment for that week's Veterans' Day holiday.

The Refinance Index decreased 5 percent from the previous week and the refinance share of all mortgage applications increased very slightly, from 58.6 percent to 58.7 percent.

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