Mortgage Application Volume Retreats for Second Week
Jan 27 2021, 7:11AM
There was a
significant
pull-back in the volume of mortgage applications during the week ended January
22. Volume has been down in two of the three full weeks of the new year. The
Mortgage Bankers Association (MBA) said its Market Composite Index, a measure
of mortgage loan application volume, declined 4.1 percent on a seasonally
adjusted basis from one week earlier and was 3.0 percent lower on an unadjusted
basis.
The
Refinance
Index was 5 percent lower than during the week ended January 15, although it outpaced
the same week in 2020 by 83 percent. The refinance share of mortgage activity