Mortgage applications ease

Jan. 26, 2005 at 1:05 PM
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WASHINGTON, Jan. 26 (UPI) -- The U.S. Mortgage Bankers Association said Wednesday mortgage applications for the week ending Jan. 21 eased.

The MBA said its seasonally adjusted index of mortgage application activity declined 3.6 percent to 658.1 in the week ended Jan. 21.

The MBA's purchase index, a gauge of loan requests for home purchases, fell 2 percent to 439.0.

Meanwhile, the MBA's seasonally adjusted index of refinancing applications dropped 5.7 percent to 1,932.8.

The survey covers approximately 50 percent of all U.S. retail residential mortgage originations. Respondents include mortgage bankers, commercial banks and thrifts.

Refinancing made up 46.5 percent of all mortgage applications last week, down from 48.9 percent the previous week.

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