Mortgage apps down for fourth straight week

by MPA02 Dec 2013
Mortgage applications dropped for the fourth straight week, according to data released Wednesday by the Mortgage Bankers Association.

The MBA’s Market Composite Index, a measure of loan application volume, dropped 0.3% for the week ending Nov. 22, while the purchase index fell 0.2%.

The Market Composite Index has fallen 7% in the last four weeks as investors worry that the Federal Reserve might wind down its $85bn-per-month bond-buying program, according to a Reuters report.

While the Fed has said it wouldn’t taper the program until it saw convincing evidence of a steady recovery, better-than-expected employment numbers last month have led some to worry that the taper might come sooner rather than later.
 

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