Mortgage applications tumble 12.9% as refinancing activity falls 15.3%

"The level of mortgage applications took a turn for the worse last week, as refinancing activity declined significantly.

The Mortgage Bankers Association said its market composite index decreased 12.9% on a seasonally adjusted basis for the week ended Jan. 21. Unadjusted, the index fell 12% from the prior week. The MBA said results don't include an adjustment for last Monday's Martin Luther King Jr. holiday..."

at http://www.housingwire.com/2011/01/26/mortgage-applications-tumble-12-9-as-refinancing-activity-falls-15-3?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+housingwire%2FuOVI+%28HousingWire%29