Mortgage Applications Trend Higher in Week Ending July 17th 2020

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 17th July 2020, the Market Composite Index,  a measure of mortgage loan application volume, increased 4.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 4% compared with the previous week. The Refinance Index increased 5% from the previous week and was 122% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 2% compared with the previous week and was 19% higher than the same week one year ago.