The Mortgage Bankers Association released its Weekly Mortgage Applications Survey for the week ending September 10, 2010.  The Market Composite Index, a measure of mortgage loan application volume, decreased 8.9% on a seasonally adjusted basis from one week earlier.  This week’s results include an adjustment to account for the Labor Day holiday. On an unadjusted basis, the Index decreased 27.4% compared with the previous week.

The Refinance Index decreased 10.8% from the previous week. The seasonally adjusted Purchase Index decreased 0.4% from one week earlier. The unadjusted Purchase Index decreased 21.9% compared with the previous week and was 39.7% lower than the same week one year ago, the MBA said.