According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 3rd July 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 2.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -8% compared with the previous week. The Refinance Index increased 0.4% from the previous week but was 111% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 5%from one week earlier. The unadjusted Purchase Index decreased -5% percent compared with the previous week but was 33% higher than the same week one year ago.
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Mortgage Applications Increase in Latest MBA Weekly Survey