Thursday, February 21, 2008

Mortgage Applications Down

The Mortgage Bankers Association (MBA) reports that for the week ending February 15 " The Market Composite Index, a measure of mortgage loan application volume, was 822.8, a decrease of 22.6 percent on a seasonally adjusted basis from 1063.5 one week earlier. On an unadjusted basis, the Index decreased 21.2 percent compared with the previous week and was up 33.9 percent compared with the same week one year earlier.'

As for refinances, the MBA reports that "The Refinance Index decreased 27.9 percent to 3533.8 from 4901.5 the previous week and the seasonally adjusted Purchase Index decreased 11.5 percent to 357.6 from 403.9 one week earlier."

To read more: Mortgage Bankers Association

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