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Mortgage Applications Start Year on Positive Note
Wednesday, January 8, 2020
The
Mortgage Banker Association's (MBA's) offices were closed over the two-week holiday
period. The data in this week's report on mortgage applications activity is
compared with that from the last published report covering the week ended
December 20. MBA's
Market Composite Index, a measure of mortgage loan application volume was down 1.5
percent on a seasonally adjusted basis compared to the previous report. On an
unadjusted basis, the Index was 22 percent lower. The Refinance
Index was down 8 percent from the last report while remaining elevated from the
same week a year earlier by 74 percent. The seasonally adjusted Purchase Index
increased 5 percent although it was down 14 percent on an unadjusted basis from
the December 20 period. Purchase applications were 2 percent higher than the
same week one year earlier.
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