Refinance Applications Decline, According To Latest MBA Survey

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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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