Led by Refinance, Mortgage Applications Increased 1.7% in Week Ending 23rd October 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 23rd, 2020, The Market Composite Index, a measure of mortgage loan application volume, increased 1.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2% compared with the previous week. The Refinance Index increased 3% from the previous week and was 80% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 0.2% from one week earlier. The unadjusted Purchase Index decreased -0.3% compared with the previous week and was 24 percent higher than the same week one year ago.