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Mortgage Loan Applications Down In Latest MBA Weekly Survey

WASHINGTON, DC-The Mortgage Bankers Association of America reports that mortgage loan applications were down 7.5% and that refinance activity also dipped several percentage points. These are among the results of its weekly mortgage applications survey.

By Wendy Watkins | Updated on February 22, 2001

WASHINGTON, DC-The market composite index of mortgage loan applications–a measure of loan purchases and refinances–for the week ending Feb. 16 fell 7.5% from the previous week, according to the weekly mortgage applications survey of the Mortgage Bankers Association of America.

The survey covers approximately 40% of all US retail residential mortgage originations and has been conducted weekly since 1990. According to the MBA, refinancing represented 57.7% of total applications, down from 61.3% the previous week. Adjustable rate mortgage activity rose from 7.7% the previous week to 8.8%.

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