Purchase Applications Fall.

MBA Mortgage Applications (week ended 9/16/2016)

– Purchase Index Week/Week -7.0%. Previous weeks were +9.0%, +1.0%, +1.0%, -0.3%, -4.0%, +3.0%, -2.0%, -3.0%, -2.0%, +0.0%, +4.0%, -3.0%, and -2.0%.
– Refinance Index Week/Week -8.0%. Previous weeks were +2.0%, +1.0%, +4.0%, -3.0%, +10.0%, -3.0%, -15.0%, -1.0%, +11.0%, +21.0%, -2.0%, +7.0%, and -1.0%.
– Composite Index Week/Week -7.3%. Previous weeks were +4.2%, +0.9%, +2.8%, -2.1%, +7.1%, -3.5%, -11.2%, -1.3%, +7.2%, +14.2%, -2.6%, and +2.9%.

Year/year purchase application were +3.0%. That 1-week blip in purchase applications disappeared.