Mortgage
application volume lost ground again last week, although the decline was small
and refinancing volume pulled out a sliver of a gain. The Mortgage Bankers
Association (MBA) said its Market Composite Index, a measure of mortgage loan
application volume, decreased 0.9 percent on a seasonally adjusted basis during
the week ended April 30. On an unadjusted basis, the Index was 1 percent lower
than the prior week.   The Refinance
Index increased 0.1 percent from the previous week but lagged the Index on the
same week in 2020 by 17 percent. The refinance share of mortgage activity
increased to 61.0 percent of total applications from 60.6 percent the previous
week.

 

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