U.S. Mortgage Applications Fall 1.9% in Week Ending March 7
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mortgage applications March 14th, 200807:12 03/12 (CEP News) Washington – The U.S. mortgage application volume fell 1.9% for the week ending March 7 according to the MBA’s Weekly Mortgage Application Survey released Wednesday.
The trade group’s market composite index was 671.7 in the week, a 1.9% decrease from 684.9 the week earlier. Refinances were also down in the week to 2448.2, a 4.7% drop from the week-ago level of 2569.0.
The conventional purchase index was down 3.3% to 898.0 from 929.0 in the previous week while the government index increased 6.0% to 294.5 from the previous 277.8 figure.
The four-week moving average for the seasonally adjusted market index dropped 12.1% to 711.1 from 809.1. The four-week moving average is down 2.4% to 361.9 from 370.7 for the purchase index while the refinance index fell 18.2% to 2752.5 from 3365.8.
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