Mortgage Applications Fell 11% Week Over Week: MBA

The volume of mortgage applications filed last week fell a seasonally adjusted 11% from the week before, even as mortgage rates dropped, the Mortgage Bankers Association reported Wednesday.

The results of the MBA's weekly survey were not adjusted for the Easter/Passover weekend, which may have contributed to why application volume declined, according to the industry group. Mortgage-application volume was still up 45.6% last week when compared with the same week in 2008.

The survey covers about half of all U.S. retail residential mortgage applications.

Read Full Article from Wall Street Journal

- Posted: 2009-04-15 08:04:44

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