The volume of mortgage
applications dipped slightly last week. The Mortgage Bankers Association (MBA)
said its Market Composite Index, a measure of that volume, was down 0.7 percent
on a seasonally adjusted basis during the week ended October 9 and was 1
percent lower on an unadjusted basis.
Index slipped 0.3 percent from the previous week and was 44 percent higher than
the same week one year ago. The refinance share of mortgage activity increased
to 65.6 percent of total applications from 65.4 percent the previous week.
adjusted Purchase Index decreased 2 percent from one week earlier and 1 percent
unadjusted. The Index was 24 percent higher than the same week one year ago,
continuing a string of year-over-year gains that started during the week ended
Refi Index vs 30yr Fixed
Purchase Index vs 30yr Fixed
applications for refinances and home purchases both