General World News

Mortgage applications continue downward trend

Mortgage application volume declined by 1.9% as of Sept. 3, falling to its lowest level since mid-July, according to the Mortgage Bankers Association’s weekly survey published on Wednesday.

On an unadjusted basis, MBA’s index decreased by 3% compared to the previous week.

Pushing the decline was the refinance index, which dipped by 3% from the previous week and was 4% lower than the same week year-over-year, the MBA said.

The seasonally adjusted purchase index also experienced a decline, albeit a marginal one of 0.2% from one week earlier, the report found.

Mike Fratantoni, senior vice president and chief economist at the MBA, noted that details ⇒

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