Adjustable-Rate Mortgage

Apps Decrease as Mortgage Rates Rise 

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending December 15. The Market Composite Index, a measure of mortgage loan application volume, was 647.6, a decrease of 10.2 percent on a seasonally adjusted basis from 721.2 one week earlier. On an unadjusted basis, the Index decreased 11.6 percent compared with the previous week and was up 13.9 percent compared with the same week one year earlier.