Posted To: MND NewsWire
The Mortgage Bankers Association (MBA) reports that the volume of loan applications submitted during the week ended November 19 increased slightly, continuing the weekly up and down pattern that has prevailed since the beginning of October. MBA says its Market Composite Index, a measure of that volume, increased 1.8 percent on a seasonally adjusted basis from one week earlier and was 0.1 percent higher on an unadjusted basis. The Refinance Index increased 0.4 percent from the previous week and was 34 percent lower than the same week one year ago. Refinancing’s share of mortgage activity increased to 63.1 percent of total applications from 62.9 percent the previous week. The seasonally adjusted Purchase Index rose 5 percent from one week earlier, but volume was down 0.4 percent on an unadjusted…(read more)
