- The Market Composite Index, a measure of mortgage application volume, increased 3.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3.3% compared with the previous week.
- The Refinance Index increased 5.6% from the previous week. This is the third consecutive weekly increase in the Refinance Index which is at its highest level since February 10, 2012.
- The seasonally adjusted Purchase Index decreased 3.0% from one week earlier to its lowest level since April 20, 2012. The unadjusted Purchase Index decreased 3.6% compared with the previous week and was 4.2% lower than the same week one year ago.
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.