Mortgage Applications Down During Holiday Week
By:
Jann Swanson
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The Mortgage Banker�s Association�s (MBA) weekly Mortgage Applications Survey for the last week of the year showed the Market Composite Index, a measure of mortgage loan application volume was 605.7, down 10.6 percent from the previous week on a seasonally adjusted basis.
The week, shortened by holiday observances, had a decrease in the seasonally adjusted Purchase Index of 13.7 percent to 417.3 from the previous week. Refinances increased to a 48.0 percent share of total mortgage applications from 46.2 percent and the ARM share decreased to 32.6 percent from 33.8 percent the previous week.
The week, shortened by holiday observances, had a decrease in the seasonally adjusted Purchase Index of 13.7 percent to 417.3 from the previous week. Refinances increased to a 48.0 percent share of total mortgage applications from 46.2 percent and the ARM share decreased to 32.6 percent from 33.8 percent the previous week.