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US Mortgage Applications fall by -13.8% for the current week

Written October 21, 2009 at 7:37 AM EST by Greg Michalowski 

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Mortgage Applications for the current week fell by -13.7%   vs  -1.8% last week.  Within the release the Purchase indes fell by -7.6%   vs  -5.0%  last week.  The  Refinancing Index fell by -16.8%  vs  -0.1% last week.  The average rate for a 30-year mortgage rose to  5.07% from   5.03% last week.  There is that feeling that the buy the dip strategy may be waning a bit.

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