week ended December 5 was another of those post-holiday periods when mortgage
application data skews all over the place just as it did during the holiday
week itself. At the end most figures
ended up essentially where they were before the festivities began.
Mortgage Bankers Association (MBA) said that its Market Composite Index, a
measure of mortgage application volume, increased by 7.3 percent on a
seasonally adjusted basis, precisely offsetting the decline in the index the
previous week which was shortened by the Thanksgiving holiday. On an unadjusted basis the index rose 52
percent, more than overcoming its 37 percent plunge the week before.