Mortgage
application volume rose for the first time in four weeks during the week ended
February 26, but it was only a marginal increase. The Mortgage Bankers Association
(MBA) said its Market Composite Index, a measure of mortgage loan application
volume, increased 0.5 percent on a seasonally adjusted basis from one week
earlier. On an unadjusted basis, the Index increased 2 percent compared with
the previous week. The
Refinance Index was 0.1 percent higher than during the week ended February 19
and was up 7 percent from the same week in 2020. The refinance share of
mortgage activity decreased to 67.5 percent of total applications from 68.5
percent. The
seasonally adjusted Purchase Index increased 2 percent and was 5 percent higher
on an unadjusted basis. Volume grew 1 percent compared to the same week last year.

 

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