HOME MORTGAGE LOAN APPLICATION VOLUME FALLS

The Market Composite Index, a measure of mortgage loan application volume, was 611.3 for the week ending Jan. 19, down 8.4 percent on a seasonally adjusted basis from 667.2 one week earlier, The Mortgage Bankers Association reported today. On an unadjusted basis, the index decreased 5.7 percent for the week ending Jan. 19 compared with the previous week and was up 3.8 percent compared with the same week one year earlier.The refinance share of mortgage activity decreased to 47.8 percent of total applications for the week ending Jan. 19 from 49.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 20.3 percent of total applications from 21.2 percent the previous week. [tags] home loans, mortgage, loans, home mortgage [/tags]   real estate downtown San Diego