According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending September 16, 2022, the Market Composite Index (a measure of mortgage loan application volume) increased 3.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 14.0% compared with the previous week. Last week’s results include an adjustment for the Labor Day holiday.
The Refinance Index increased 10.0% from the previous week but was 83.0% lower than the same week one year ago.
The seasonally adjusted Purchase Index increased 1.0% from the previous week. The unadjusted Purchase Index increased 11.0% compared with the previous week but was 30.0% lower than the same week one year ago.
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Mortgage Applications Increase in Latest MBA Weekly Survey