Mortgage Ap's, Sales Fall

A Mortgage Bankers Association poll reveals continued weakness in the real estate market. "Overall mortgage applications fell again last week, dropping 10.6 percent on a seasonally adjusted basis from the week before, according to the Mortgage Bankers Association's weekly survey. During the holiday-shortened week, the MBA seasonally adjusted purchase index decreased by 13.7 percent to 417.3 from 483.8 the previous week. The seasonally adjusted refinance index decreased by 5.7 percent to 1,701.3 from 1,803.9 one week earlier".