Mortgage Applications Increase in Week Ending July 10th 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 10th July 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 5.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 16% compared with the previous week. The Refinance Index increased 12% from the previous week and was 107% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 6% from one week earlier. The unadjusted Purchase Index increased 5% compared with the previous week and was 16% higher than the same week one year ago.