MBA Mortgage Applications Down 16.5%
(For The Week Ending November 26, 2010)
MBA mortgage applications fell 16.5% on the back of declining refinancing; Prior reading was an increase of 2.1%; On year level MBA Basic Index is down 0.8%.
Chart 1. Mortgage Bankers Association Basic Index SA
MBA Refinancing index fell -21.6%; Prior reading was a decrease of 1.0%; On year level MBA Refinancing Index is up 3.8%.
Chart 2. Mortgage Bankers Association Refinancing Index SA
MBA Purchase Index rose 1.1%. Prior reading was in increase of 14.4.%; On year level MBA Purchase Index is down 10.8%.
Chart 3. Mortgage Bankers Association Purchase Index SA
Only pain here…