Tag Archives: Mortgage Applications Take a Dip

After three weeks of gains, mortgage applications reversed course and dropped last week, amid rising mortgage rates, the Mortgage Bankers Association reported in its weekly survey. Most of the drop was attributed to a decrease in refinancing. The MBA’s mortgage application index,which reflects applications for refinancing and purchases, dropped 8.1 percent in the week ending Jan. 25. Broken out, refinancing applications, which make up the biggest bulk of the index, dropped 10.2 percent last week. Applications for home purchases, viewed as a leading indicator of future home sales, dropped slightly […]