US DATA IMPACT:MBA Mkt Composite -0.6%,Refis -1% May 10 Wk

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

further pull back in mortgage activity in the May 10 week, with activity down

0.6% despite a slightly downtick in mortgage rates.

     Here are some of the key features of the report:

     - Both the Refinance Index and Purchase Index fell by 1% in the current

week. 

     - The 30-year average rate for a 30-year fixed mortgage fell very slightly

to 4.40% in the current week from 4.41% in the previous week. 

     - The unadjusted purchasing index was up 7% from a year earlier. 

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

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