Mortgage Purchase Applications at Highest Level Since August

(November 23, 2011) Purchase applications increased to their highest levels since August while refinance applications were at their lowest level since the end of July according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 18, 2011.

The Market Composite Index, a measure of mortgage loan application volume which includes purchase applications and refinance applications, decreased a seasonally adjusted 1.2 percent from the previous week.

On an unadjusted basis, the Index increased 8.6 percent from the previous week. The four week moving average for the seasonally adjusted Market Index is down 0.42 percent.

Read the whole story at LoanRateUpdate.com.


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