Mortgage applications decline; purchase index at lowest reading in over eight years

PORTLAND, OR, Nov. 7, 2018 (RISI) -Mortgage applications decreased 4.0% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 2, 2018.

The Market Composite Index, a measure of mortgage loan application volume, decreased 4.0% on a seasonally adjusted basis from one week earlier to the lowest level since December 2014. On an unadjusted basis, the Index decreased 2% compared with the previous week. The Refinance Index decreased 3% from the previous week. The seasonally adjusted Purchase Index decreased 5% from one week earlier to the lowest level since ...

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