Mortgage Apps Plunge 9.1% Over Two Week Period

Julie C. Nichols General

HousingWire – Trey Garrison

Mortgage applications decreased 9.1% from two weeks earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending January 2, 2015.

The most recent week’s 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.

The Market Composite Index, a measure of mortgage loan application volume, decreased 9.1% on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased 37% compared with two weeks ago. The Refinance Index decreased 12% from two weeks ago.

The seasonally adjusted Purchase Index decreased 5% from two weeks earlier while the unadjusted Purchase Index decreased 33% compared with two weeks ago. The Purchase Index was 8% lower than the same week one year ago.

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