According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending June 24th, 2022, the Market Composite Index, a measure of mortgage loan application volume increased 0.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 20% compared with the previous week.
The Refinance Index increased 2% from the previous week but was 80% lower than the same week one year ago.
The seasonally adjusted Purchase Index increased 0.1% from the previous week. The unadjusted Purchase Index decreased 21% compared with the previous week and was 24% lower than the same week one year ago.
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Mortgage Applications Increase in Latest MBA Weekly Survey