According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending March 27th 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 15.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 15% when compared to the previous week. The Refinance Index increased 26% from the previous week, and was 168% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 11% from one week earlier. The unadjusted Purchase Index decreased 10% compared with the previous week and was 24% lower than the same week one year ago.
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Mortgage Applications Increase in Latest MBA Weekly Survey