MBA: Mortgage applications plummet 27%

Julie C. Nichols General

Reblogged from: Housing Wire – Brena Swanson

Mortgage applications tumbled 27% from two weeks earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 1, 2016.

These results include an adjustment to account for the New Year’s Day holiday, while the previous week’s results were adjusted for the Christmas holiday. Last week is the only week of the year that the MBA doesn’t release a mortgage application report.

The refinance index dropped 37% from two weeks ago, compared to the seasonally adjusted purchase index, which decreased 15% from two weeks earlier.

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