Lackluster Week for Mortgage Applications

Mortgage Applications slowed for the second straight time last week but the loss was modest compared to the 9.2 percent plunge during the week that preceded it. The Mortgage Bankers Association’s (MBA) Mortgage Applications Survey found that applications for mortgages during the week ended June 20 were 1 percent lower on a seasonally adjusted basis than during the week ended June 13. The loss brought the Market Composite Index, a measure of application volume, down to its lowest level since April. On an unadjusted basis the index was down 2.0 percent.

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