Mortgage Applications Increased in the Week Ending February 3rd

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending February 3, 2023, the Market Composite Index (a measure of mortgage loan application volume) increased 7.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 8.0% compared with the previous week.

The Refinance Index rose 18.0% from the previous week but was 75.0% lower than the same week one year ago.

The seasonally adjusted Purchase Index increased 3.0% from one week earlier. The unadjusted Purchase Index increased 4.0% compared with the previous week but was 37.0% lower than the same week one year ago.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.