Thursday, December 02, 2004

Mortgage Activity Slows During Thanksgiving Week

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending November 26. It reveals a slight decrease in mortgage activity as follows:

"The Market Composite Index - a measure of mortgage loan application volume - was 673.3, a decrease of 5.8 percent on a seasonally adjusted basis from 715.0 one week earlier. On an unadjusted basis, the Index decreased 36.0 percent compared with last week and was down 1.9 percent compared with the same week one year earlier."

Certainly no surprise during the Thanksgiving (or any) holiday time.

To read the entire article, go here.

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