Mortgage Applications Increase 3.8% from Week Earlier

According to data from the Mortgage Bankers Association. the Market Composite Index, a measure of mortgage loan application volume, increased 3.8 % on a SAAR basis from one week earlier. On an unadjusted basis, the Index increased 47% compared with the previous week. The Refinance Index increased 9% percent from the previous week and was 146 % higher than the same week one year ago.