March 28, 2012 – Mortgage applications decreased 2.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 23, 2012. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.7 percent on a seasonally adjusted basis from one week earlier. The Refinance Index decreased 4.6 percent from the previous week. The Refinance Index has decreased for six consecutive weeks, falling to its lowest level since December.
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