WASHINGTON, D.C. – November 3, 2010 – (RealEstateRama) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 29, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5.3 percent compared with the previous week.The Refinance Index decreased 6.4 percent from the previous week. This is the third straight week the Refinance Index has decreased. The seasonally adjusted Purchase Index increased 1.4 percent from one week earlier. The unadjusted Purchase Index increased 0.2 percent compared with the previous week and was 28.0 percent lower than the same week one year ago.
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