Mortgage application volume drops during holidays, MBA report shows

January 06, 2010 09:17AM

The rate of mortgage application filings dropped the week of Christmas and then stayed flat through the following week, according to the most recent Mortgage Bankers Association weekly survey. The week ending Dec. 25 saw a 22.8 percent decrease in the MBA index, which measures seasonally-adjusted loan application volume data. The following week, ending Jan. 1, the index stayed relatively the same, increasing just .5 percent. Refinancing accounted for nearly 70 percent of all mortgage activity for both weeks, according to the report. TRD

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