MBA: Mortgage Apps Fall 12 Percent

Mortgage applications fell 12 percent over the most recent two-week period, according to data gathered in the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The MBA’s Refinance Index declined 22 percent, as well, while the Purchase Index declined 41 percent.
The refinance share of mortgage activity, however, increased to 52.2 percent of total applications from 51.8 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to