Mortgage Applications Increase for Fourth Consecutive Week

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending March 24th, the Market Composite Index—a measure of mortgage loan application volume—increased 2.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3.0% compared with the previous week.

The Refinance Index rose 5.0% from the previous week but was 61.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index increased 2.0% from one week earlier. The unadjusted Purchase Index increased 2.0% compared with the previous week but was 35.0% lower than the same week one year ago.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.