Mortgage Apps Continue Tumble; Mortgage Rate Picture Mixed

'The MBA’s seasonally-adjusted index, which tracks both purchase and refinance application activity, fell 19.2 percent for the week ended Feb. 22, to 665.1. One week earlier, the index stood at 822.8; in two weeks, the index has fallen 37.5 percent. The application index is calibrated to March 16, 1990; a reading of 665.1 means that application activity was roughly 6.6 times greater than when the index was first established.'