Wednesday, August 31, 2011
MBA: Mortgage Purchase Activity “near 15-year lows”
by CalculatedRisk on 8/31/2011 07:13:00 AM
The MBA reports: Mortgage Applications Decrease in Latest MBA Weekly Survey
The Refinance Index decreased 12.2 percent from the previous week. The seasonally adjusted Purchase Index increased 0.9 percent from one week earlier.
“Refinance application volume declined for a second week from recent highs, despite rates staying near a 10-month low, while purchase volume remained near 15-year lows,” said Mike Fratantoni, MBA’s Vice President of Research and Economics.