MBA: Mortgage applications drop 9.7%

The Refinance Index fell by 9% over the same period, and the Purchase Index fell by 11%.

According to the latest Mortgage Bankers Association’s Weekly Mortgage Application Survey, Market Composite Index, a measure of mortgage loan application volume, fell by 9.7% on a seasonally-adjusted basis for the week ending September 15, 2017. (Last week’s results included an adjustment for the Labor Day holiday.)

On an unadjusted basis, the Index increased by 12% from one week earlier. The Refinance Index decreased by 9% over the same period. The seasonally-adjusted Purchase Index decreased by 11%, while the unadjusted Purchase Index increased by 10%.

The refinance share of mortgage activity rose to 52.1% of total applications, up from 51.0% the previous week. The adjustable-rate mortgage share of activity rose to 6.8% of total applications. The FHA share remained unchanged at 9.9%, the VA share fell to 10.1% from 10.3% the previous week, and the USDA share remained unchanged at 0.7%.


Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Court Rich, Rose Law group co-founder, Director of Renewable Energy & Utility Infrastructure, celebrates 20 years of sustainability in the legal field

By InBusiness Phoenix Court Rich, Co-Founder of Rose Law Group pc, is celebrating twenty years since joining the firm. Under Court’s guidance, Rose Law Group has become a leading firm for renewable energy and regulatory law in the Southwest. When Court joined in 2004, the firm had just two attorneys. Today, it boasts a

Read More »
September 2017