The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications, was 724.7 for the week ending Sept. 24, an increase of 4.9 percent on a seasonally adjusted basis compared with 690.7 one week earlier, according to a report released today by the Mortgage Bankers Association (MBA). On an unadjusted basis, the Index increased by 4.6 percent for the week ending Sept. 24, compared with the previous week and was up 2.1 percent compared with the same week one year earlier.
The refinance share of mortgage activity increased to 45.9 percent of total applications for the week ending Sept. 24 from 44.5 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 32.5 percent of total applications for the week ending Sept. 24 compared with 33.1 percent the previous week, according to the report.
Posted by gandlwoods at October 4, 2004 08:40 AM