Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage application volume, moved higher during the week ended September 21 as did all of its seasonally adjusted and unadjusted components. It was the second straight week that all of the MBA indices gained ground , the first such double play since early 2016. The Component index was up 2.9 percent on a seasonally adjusted basis compared to the week ended September 14 and 2.0 percent on an unadjusted basis. The volume of applications for purchase mortgages increased 3 percent on an adjusted basis, the fourth week in a row that measure has gained ground. It was up 2 percent before adjustment. The unadjusted version was 4 percent higher than during the same week in 2017. The Refinancing Index rose 3 percent…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631