Tuesday , 26 January 2021

No Surprise: Mortgage Apps Sapped by Holidays

By Jann Swanson

Posted To: MND NewsWire

The Mortgage Bankers Association, which traditionally closes its office during the end of the year holiday season, played catchup today with results from its Weekly Mortgage Applications Survey for the two weeks ended January 2. While two weeks are included in the survey, comparisons are to the week ended December 19. Each of the two weeks covered in the report were adjusted to account for the Christmas and the New Years’ holiday respectively. Application volume as measured by MBA’s Market Composite Index was down during the week by 9.1 percent on a seasonally adjusted basis compared to two weeks earlier. On an unadjusted basis the index unsurprisingly plummeted by 37 percent. The Refinance Index , which is not seasonally adjusted, was down 12 percent from two weeks earlier while the share…(read more)

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