Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage Bankers Association press release ----- Mortgage applications decreased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 10, 2017. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1 percent compared with the previous week. The Refinance Index decreased 3 percent from the previous week. The seasonally adjusted Purchase Index decreased 5 percent from one week earlier. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 3 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 46.9 percent of total applications, its lowest level since June 2009, from 47.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 7.5 percent of total applications, its highest level since October 2015. To learn more about mortgage applications decreasing in the latest MBA Weekly Survey click on the picture below to read the release.