Saturday , 23 January 2021

More Holiday-Adjusted Volatility for Mortgage Applications

By Jann Swanson

Posted To: MND NewsWire

The week ended December 5 was another of those post-holiday periods when mortgage application data skews all over the place just as it did during the holiday week itself. At the end most figures ended up essentially where they were before the festivities began. The Mortgage Bankers Association (MBA) said that its Market Composite Index, a measure of mortgage application volume, increased by 7.3 percent on a seasonally adjusted basis, precisely offsetting the decline in the index the previous week which was shortened by the Thanksgiving holiday. On an unadjusted basis the index rose 52 percent, more than overcoming its 37 percent plunge the week before. The Refinance Index increased 13 percent from the previous week and the refinance share of applications increased to 64 percent of the total…(read more)

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