The latest Weekly Mortgage Applications Survey of the Mortgage Bankers Association -- with data for the week ending May 11, 2012 -- was released May 16.
- The Market Composite Index, a measure of mortgage application volume, increased 9.2% on a seasonally adjusted basis from the week earlier.
- The Purchase Index decreased 2.4%.
- The Refinance Index is up 13%.
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.
For additional information, visit MBA's web site: www.mortgagebankers.org.