The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey  for the week ending September 17, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.4 percent on a seasonally adjusted basis from one week earlier. The Refinance Index decreased 0.9 percent from the previous week, which is the third straight weekly decrease.
The refinance share of mortgage activity increased to 81.1 percent of total applications from 80.5 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 5.9 percent from 6.2 percent of total applications from the previous week.