Tag Archives: MBA: Mortgage applications continue 6-week drop

Mortgage applications declined 7.4% for the week ended March 16, as refinancing hit its lowest share of loan activity since July 2011. The Mortgage Bankers Association seasonally adjusted index fell for the sixth straight week, with the refinance measure down 9.3% in a report Wednesday. Refinancings made up 73.4% of all mortgage apps, down from 75.1% a week earlier. The purchase-mortgage index dropped 1% from the week prior. The trade group’s four-week moving average fell 2.79% overall, with purchase apps up 3.25% and refinancings down 4.31%. The drop in refinancing […]