The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey reports mortgage apps fell 2.7 percent on a seasonally adjusted basis for the week ending Aug. 8, 2014. The index fell three percent on an unadjusted basis, according to worldpropertychannel.com. The Refinance Index fell four percent from the previous week, while the seasonally adjusted Purchase Index fell one percent from the week before. The unadjusted Purchase Index fell two percent versus the previous week, and was ten percent lower than the same week one year earlier, as MHProNews has learned. The refinance share of mortgage activity dropped one percent to 54, while the adjustable-rate mortgage (ARM) share of activity was unchanged at eight percent of activity. ##

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