MORTGAGE APPLICATIONS DROP

The Mortgage Banker’s Association(MBA) announced that application for real estate loans dropped in the past week. The survey, which was released for the week ending March 17, 2017, measured the loan application volume for the previous week, and determined the amount of individuals applying for mortgages deceased by 2.7%.

The seasonally adjusted Purchase Index decreased 2 percent from one week earlier. The non-adjusted Purchase Index decreased 2 percent compared with the previous week and was 5 percent higher than the same week one year ago. The Government Refinance Index decreased 12 percent to the lowest level since December 2014.

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