Mortgage Applications Reach Highest Level Since 2009

The latest Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending June 8, 2012 -- was released Wednesday, June 13.

• The Market Composite Index, a measure of mortgage loan application volume, increased 18.0% on a seasonally adjusted basis from one week earlier to the highest level since May 2009.  On an unadjusted basis, the Index increased over 30% compared with the previous week.

• The Refinance Index increased over 19% from the previous week to the highest index level since April 2009.

• The seasonally adjusted Purchase Index increased around 13% from one week earlier. The unadjusted Purchase Index increased over 23% compared with the previous week and was 4% higher 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.