The Real Deal Miami

Mortgage applications down as rates climb

February 13, 2013 11:00AM

The number of mortgage applications for the week ending February 13, 2013 decreased 6.4 percent on a seasonally adjusted basis from the previous week, the Mortgage Bankers Association announced today. On an unadjusted basis, the Index decreased 5 percent compared with the previous week. The Refinance Index decreased 6 percent from the previous week. The seasonally adjusted Purchase Index decreased 10 percent from one week earlier, reaching its highest level since the week ending May 7, 2010. Unadjusted, the Purchase Index decreased 4 percent compared with the previous week and was 15 percent higher than the same week one year ago. [more]