Mortgage Applications Increase Ever So Slightly in Week Ending May 1st 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending May 1st, 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 0.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1% compared with the previous week. The Refinance Index decreased -2% week but was 210% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 6% from one week earlier. The unadjusted Purchase Index increased 7% compared with the previous week but was <19%> lower than the same week one year ago.