According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending May 8th, 2020, 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 increased 1% compared with the previous week. The Refinance Index decreased -3% from the previous week but was 201% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 11% from one week earlier. The unadjusted Purchase Index increased 11% compared with the previous week but was -10% lower than the same week one year ago.
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Mortgage Applications Increase in Latest MBA Weekly Survey