The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 4.5 percent in the week ended Aug 10.
The gauge of loan requests for home purchases, a leading indicator of home sales, dropped 2.0 percent.
The measure of applications for refinancing fared even worse and was down 5.1 percent.
"The MBA Purchase Application index remains in a red zone since May 2010. It is hard to imagine a vibrant housing market recovery with mortgage purchase applications stuck in a rut."
http://confoundedinterest.wordpress.com/2012/08/15/mortgage-applications-fall-4-5-purchase-applications-still-in-a-rut/
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 4.5 percent in the week ended Aug 10.
The gauge of loan requests for home purchases, a leading indicator of home sales, dropped 2.0 percent.
The measure of applications for refinancing fared even worse and was down 5.1 percent.
"The MBA Purchase Application index remains in a red zone since May 2010. It is hard to imagine a vibrant housing market recovery with mortgage purchase applications stuck in a rut."
#housing