Mortgage Applications Increased 16.7% in Week Ending January 8th, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending January 8th , 2021, the Market Composite Index, a measure of mortgage loan application volume, increased 16.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 69% compared with the previous week. The Refinance Index increased 20% from the previous week and was 93% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 8% from one week earlier. The unadjusted Purchase Index increased 60% compared with the previous week and was 10% higher than the same week one year ago.