Morning Briefing: Mortgage applications decline

by Steve Randall01 Oct 2015
Mortgage applications decline
Mortgage applications were lower in the week ending Sept. 25 compared to a week earlier. The Mortgage Bankers Association’s Weekly Mortgage Applications Survey showed that the seasonally adjusted index decreased 6.7 per cent and on an unadjusted basis, the Index decreased 7 per. The Refinance Index decreased 8 per cent; both the seasonally adjusted and unadjusted Purchase Indexes decreased 6 per cent.

The refinance share of mortgage activity decreased to 58.0 per cent of total applications from 58.4 per cent the previous week; ARM share remained unchanged at 6.9 per cent of total applications; FHA share increased to 13.8 per cent from 12.9 per cent the week prior; VA share increased to 10.3 per cent from 10.0 per cent the week prior; and the USDA share of total applications remained unchanged at 0.7 per cent.
 
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