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Mortgage Applications Resume Downward Spiral

(Mortgage News Daily) - 10 months, 3 weeks ago
 Posted To: MND NewsWireThe surge in mortgage applications last week, fostered by a 6.0 percent increase in refinancing, was short-lived. Despite slightly lower interest rates, the Mortgage Bankers Association (MBA) reports that its Market Composite Index, a measure of applications received by lenders, has resumed its downward spiral, with volume decreasing for the 17th time in the last 22 weeks. During the week ended August 24 the total volume of applications was 1.7 percent lower than the previ...
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