Mortgage Applications, Refi Activity Take A Spill

13286_housingdecline Mortgage Applications, Refi Activity Take A Spill Last week saw a dip in both mortgage applications and refinance activity, according to data from the Mortgage Bankers Association (MBA) for the week ending Feb. 8.

The MBA's market composite index decreased 6.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 5% compared with the previous week.Â

The refinance Index decreased 6% from the previous week. The refinance share of mortgage activity of total applications was unchanged at 78% from the previous week.Â

The seasonally adjusted purchase index decreased 10% from one week earlier. The unadjusted purchase index decreased 4% compared with the previous week and was 15% higher than the same week one year ago.


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