Lower Rates Fail to Stir Mortgage Applications

By Jann Swanson

Posted To: MND NewsWire

Mortgage applications were down modestly during the week ended December 12, with purchase applications accounting for the decline. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, lost 3.3 percent on a seasonally adjusted basis from the week ended December 5 and was 4 percent lower on an unadjusted basis. The Refinance Index was unchanged from the previous week but the portion of all mortgage applications intended for refinancing rose from 64 percent to 66 percent. This was the highest share of applications captured by refinancing since December 2014. Refinance Index vs 30 Yr Fixed The index reflecting applications for home purchasing was down 7.0 percent on a seasonally adjusted basis from the previous week and 10.0 percent on an unadjusted…(read more)

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