Mortgage application volume declined slightly in all but
one category during the week ended November 7.
The Mortgage Bankers Association said that its Market Composite Index, a
measure of application volume, was down 0.9 percent on a seasonally adjusted
basis from volume during the week ended October 31 and was 2 percent lower on a
Refinancing retained the previous week’s 63 percent
share of application volume but the Refinance Index declined by 2 percent.
The seasonally adjusted Purchase Index was
the only index to increase compared to the previous week, rising 1
percent. The unadjusted Purchase Index decreased
2 percent from a week earlier and was 11 percent lower than during the same
week in 2013.