MNI DATA IMPACT:US MBA Mkt Composite -1.4%, Refi +0.1% July 26

     WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a

third straight decrease in mortgage activity in the July 26 week, with activity

down 1.4% even as mortgage rates remained low.

     Here are some of the key features of the report:

     - The Refinance Index rose by 0.1%, but the Purchases Index fell by 3%. The

unadjusted purchasing index was still up 6% from a year earlier. 

     - The 30-year average rate for a 30-year fixed mortgage held steady at

4.08% in the current week.

     - MBA suggested that the decline in activity to its lowest point since

March was due in part to inadequate supply.

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

[TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]