Refinance Share Slips under 50 Percent

Posted To: MND NewsWire

Mortgage application volume was generally lower during the week ended January 27. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, was down 3.2 percent from the week ended January 20 and up 11 percent on an unadjusted basis, The Refinance Index decreased by 1 percent and the refinance share of total activity slipped to 49.4 percent from 50.0 percent. It was the first time refinancing had garnered less than a half-share of the week’s applications since July 2015 . The seasonally adjusted Purchase Index, after gaining 6 percent the previous week to reach its highest level since last summer, dropped back by 6 percent. The unadjusted index was up 12 percent week-over-week and was 2 percent higher than the same week in 2016. For the fifth week in…(read more)

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Refinance Share Slips under 50 Percent
Refinance Share Slips under 50 Percent

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