Refinance Applications Decline, According To Latest MBA Survey

Mortgage purchase applications rose, while refinance applications fell, in the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 29.

The Refinance Index decreased 6.4% from the previous week, and the seasonally adjusted Purchase Index increased 1.4%.

The refinance share of mortgage activity decreased 1% to 81.3% of total applications. The adjustable-rate mortgage (ARM) share of activity increased to 5.4% from 5.3% of total applications from the previous week.

SOURCE: Mortgage Bankers Association

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