Mortgage Applications Increased 3.8% in Week Ending 30th October 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 30th 2020, 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 3% compared with the previous week. The Refinance Index increased 6% from the previous week and was 88% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 1-% from one week earlier. The unadjusted Purchase Index decreased -3% compared with the previous week but was 25% higher than the same week one year ago.