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MBA: Mortgage applications dip 1.0%

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MBA: Mortgage applications dip 1.0%

Mortgageapplications in the week ended March 25 slipped 1.0% from one week earlier, ona seasonally adjusted basis, the Mortgage Bankers Association reported March30, citing the results of its weekly mortgage applications survey.

On anunadjusted basis, the market composite index, which measures mortgage loanapplication volume, decreased 1% week over week.

Theseasonally adjusted purchase index was up 2% compared to the previous week. Theunadjusted purchase index rose 3% week over week, and was 21% higher comparedto the year-ago period.

Therefinance index decreased 3% from the previous week.