Mortgage Applications Increase for Second Consecutive Week

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending November 18, 2022, the Market Composite Index (a measure of mortgage loan application volume) increased 2.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 10.0% compared with the previous week. Last week’s results include an adjustment for Veterans Day.

The Refinance Index increased 2.0% from the previous week but was 86.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index increased 3.0% from the previous week. The unadjusted Purchase Index increased 9.0% compared with the previous week but was 41.0% lower than the same week one year ago.

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