Mortgage applications decreased 10% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending July 11.

Last week’s results included an adjustment for the July 4 holiday. On an unadjusted basis, the index increased 13% compared with the prior week.

The refinance index decreased 7% from the previous week and was 25% higher than the same week one year ago. But the refi share of mortgage application activity increased, rising to 41.1% of total applications during the week.

The seasonally adjusted purchase index decreased 12% from one week earlier. The details ⇒

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