Wednesday, November 18, 2009
From the Mortgage Bankers Association...
The Market Composite Index, a measure of mortgage loan application volume decreased 2.5 percent on a seasonally adjusted basis from one week earlier. The four week moving average for the seasonally adjusted Market Index is down 1.2 percent.
The Refinance Index decreased 1.4 percent from the previous week. The four week moving average is up 1.4 percent for the Refinance Index. The refinance share of mortgage activity increased to 72.9 percent of total applications from 71.5 percent the previous week. This refinance share is the highest share since the week ending May 15, 2009.