Mortgage Apps Decreased 4.5%

February 22, 2012 – The Mortgage Bankers Association reported that the mortgage applications decreased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 17, 2012.

The Market Composite Index, a measure of mortgage loan application volume, decreased 4.5 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 3.6 percent compared with the previous week.  The Refinance Index decreased 4.8 percent from the previous week.  The seasonally adjusted Purchase Index decreased 2.9 percent from one week earlier. The unadjusted Purchase Index increased 1.4 percent compared with the previous week and was 9.2 percent lower than the same week one year ago.

The four-week moving average for the seasonally adjusted Market Index is down 0.30 percent.  The four-week moving average is down 3.21 percent for the seasonally adjusted Purchase Index, while this average is up 0.33 percent for the Refinance Index.

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