Mortgage Applications Increase in the Week Ending November 24th
Mortgage Applications Increase in Latest MBA Weekly Survey
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey for the week ending Friday, November 24th, the Market Composite Index—a measure of mortgage loan application volume—increased 0.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 33.0% compared with the previous week. The MBA notes that the results include an adjustment for the observance of the Thanksgiving holiday.
The Refinance Index declined 9.0% from the previous week but was 1.0% higher than the same week one year ago.
The seasonally adjusted Purchase Index increased 5.0% from one week earlier. The unadjusted Purchase Index decreased 31.0% compared with the previous week and was 19.0% lower than the same week one year ago.
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