(Reuters) - The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes requests for both refinancing and purchasing loans, for the week ended May 25 dropped 7.3 percent to 636.4.
Applications, however, were 17.4 percent above a year ago. The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was down 0.8 percent.
Read more at Reuters.com Bonds News
Applications, however, were 17.4 percent above a year ago. The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was down 0.8 percent.
Read more at Reuters.com Bonds News
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