According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending March 6th, 2020, the Market Composite Index, a measure of mortgage loan applications volume, increased 55.4% on a seasonally adjusted basis from one week earlier. The highest level since April 2009. On an unadjusted basis, the Index increased 54% when compared with the previous week. The Refinance Index increased 79% from the previous week and was 479% higher than the same week one year ago.
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Mortgage Applications Increase in Latest MBA Weekly Survey; MBA Doubles 2020 Refinance Originations Forecast