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 December 16, 2022, the Market Composite Index (a measure of mortgage loan application volume) increased 0.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 1.0% compared with the previous week.

The Refinance Index increased 6.0% from the previous week but was 85.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index decreased 0.1% from the previous week. The unadjusted Purchase Index decreased 3.0% compared with the previous week and was 36.0% lower than the same week one year ago.

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