The number of mortgage applications for the week ending March 20, 2013 decreased 7.1 percent percent on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association announced today. On an unadjusted basis, the index decreased 7 percent compared with the previous week.
The Refinance Index decreased 8 percent from the previous week and the seasonally adjusted Purchase Index decreased 4 percent from one week earlier. Unadjusted, the Purchase Index decreased 3 percent compared with the previous week and was 6 percent higher than the same week one year ago. [more]