The latest Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending July 13, 2012 -- was released Wednesday, July 18.
- The Market Composite Index, a measure of mortgage loan application volume, increased 16.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 46% compared with the previous week.
- The Refinance Index increased 22% from the previous week and is at the highest level since mid-June. The refinance share of mortgage activity increased to 80.1% of total
applications, up from 77% the previous week.
- The seasonally adjusted Purchase Index decreased 0.1% from one week earlier. The unadjusted Purchase Index increased more than 25% compared with the previous week and was 3% lower than the same week one year ago.
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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.