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US weekly mortgage applications down again: MBA

U.S. mortgage applications were down for a fourth week running, slipping 2.1% on a seasonally adjusted basis for the week ended Oct. 6 after a 0.4% decline in the week before, according to the Mortgage Bankers Association.

On an unadjusted basis, the market composite index lost 2% over the previous week.

The refinance index decreased 4% from the previous week, while the seasonally adjusted and unadjusted purchase indexes declined 0.1% each.

The refinance share of mortgage activity also decreased to 49.0% of total applications in the week, from 50.1% the week before, the MBA survey noted.