Both refinance and
purchase applications increased slightly last week, and the Mortgage Bankers
Association (MBA) said its Market Composite Index, a measure of mortgage loan
application volume, increased 1.6 percent on a seasonally adjusted basis and
1.0 percent on an unadjusted basis from one week earlier. The Refinance
Index increased 1 percent from the previous week and was 3 percent higher than
the same week one year ago. The refinance share of mortgage activity remained
unchanged from the previous week at 67.3 percent of total application The seasonally
adjusted Purchase Index increased 3 percent, 1 percent before adjustment, from
one week earlier. The unadjusted index was 16 percent lower than the same week
one year ago.

 

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